TurboTax analysis is telling me that I will have to pay a bigger tax penalty for not having health insurance next year? Is this true, or is TurboTax out of date?

agdsouza · ‎June 4, 2019

MaryK1 · ‎June 4, 2019

No, the tax reform law repealed the individual penalty for not having health insurance, but that provision doesn't take effect until 2019. So, for 2018, you may be charged the greater of $695 or 2.5 percent of your household income.

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MaryK1 · ‎June 4, 2019

No, the tax reform law repealed the individual penalty for not having health insurance, but that provision doesn't take effect until 2019. So, for 2018, you may be charged the greater of $695 or 2.5 percent of your household income.

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agdsouza · ‎June 4, 2019

sorry I guess I misunderstood the law. Thanks

MaryK1 · ‎June 4, 2019

I did too, I was so hopeful it would be gone!

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TurboTax analysis is telling me that I will have to pay a bigger tax penalty for not having health insurance next year? Is this true, or is TurboTax out of date?