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Are still penalties or fees for paying fees for not having health care insurance during 2017? How does this work?
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Are still penalties or fees for paying fees for not having health care insurance during 2017? How does this work?
Yes, the penalty still applies for 2017 (and 2018).
When you tell TurboTax (in the Health Insurance section) that you did not have qualifying health insurance (or only had it for part of the year), it will calculate the penalty.
It will also ask if you have any situations that qualify to waive the penalty.
https://www.healthcare.gov/health-coverage-exemptions/exemptions-from-the-fee/
The penalty 2.5% of the amount of your income that is over the 'filing threshold' ($10,000-ish for a Single person), with a minimum of $695 per adult.
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Are still penalties or fees for paying fees for not having health care insurance during 2017? How does this work?
Yes, the penalty still applies for 2017 (and 2018).
When you tell TurboTax (in the Health Insurance section) that you did not have qualifying health insurance (or only had it for part of the year), it will calculate the penalty.
It will also ask if you have any situations that qualify to waive the penalty.
https://www.healthcare.gov/health-coverage-exemptions/exemptions-from-the-fee/
The penalty 2.5% of the amount of your income that is over the 'filing threshold' ($10,000-ish for a Single person), with a minimum of $695 per adult.