Tax filing first time/health insurance penalty

[geowrian 22,335]

13 minutes ago, Trymester3 said:

Asking this question here so as to not start a new thread.

 

My wife and I are in the middle of a divorce. She may not need health insurance at all, but being that she's a resident she will be charged on next year's taxes if she doesn't choose a plan. I know that she would rather not have to send $200-$400 monthly money orders to the NY State of Health for an insurance that she doesn't plan to use. She doesn't ever go to the doctor.

 

My question is, can any of you estimate how much money they'll take out of her 2017 tax return next year to penalize her for not getting insurance?

A mod is probably going to come along and split this into one anyway. You should create a new thread for different questions.

 

Nobody (healthy) plans to use health insurance.

 

The ACA mandate penalty will likely be somewhere between $0 (if repealed) and:

1) 2.5% of income up to ~$2676 depending on age, filing status, etc., OR

2) $695

(whichever option above is higher)

 

An estimator is here: https://taxpayeradvocate.irs.gov/estimator/isrp/estimator.htm

Edited February 25, 2017 by geowrian

[Trymester3 6]

thanks for your reply. It's confusing since we were advised to file married-filing jointly this year, but obviously our divorce decree will already be here for us by the time the 2017 taxes come around.