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01-25-2017 02:17 AM
I didnt know I didnt have heath care all last year through my parent. we ussualy do but I guess it got expesive this year. I didnt even ask till since i had no need to go to the doctor last. Do I still need to pay the fee??Also being 21 do I need submit taxes this year??
01-25-2017 09:33 AM
Hello and welcome to the community.
You have a lot of variables in play here so let me try to narrow a few things down:
Are you in school full time?
Will your parents be filing you on their tax return?
Are you working?
Under the assumption that you were going to school full time and not working, your parents will most likely be claiming you on their tax return and you will not be required to file. In this scenario you personally would not be responsible for the health care mandate penalty, that would belong to your parents.
I hope this is helpful,
01-25-2017 01:34 PM
Welcome to the community.
Health insurance is one of my areas of expertise and I'll be glad to assist you.
You only need to file a tax return if:
You are exempt from the penalty for not having health insurance if:
I don't believe you will owe any penalty and depending on your income you may or may not need to file a tax return. I'll be glad to help you determine what you'll need to do (if anything) and what if anything will affect your return. Can you answer a few questions for me? If you're not sure one any of them that's fine too.
We'll start with that and then go from there.
Senior Tax Advisor (Tampa, FL)
04-17-2017 10:28 AM
I am claiming my 21yr old, who is a Full time College student, with a full ride football scholarship. I purchased a medical Insurance the school recommended for the first 3 years of college. The medical coverage cycle followed the school year (Aug-Aug). The schools financial Aid advisor and I, worked to bring my son's debt down last year, to lift a hold on his account. The end result, I wouldn't need to renew my son's Health Insurance through the third party company, and of Sept 2016 through May 2017, he will be covered by the school. I have no paperwork supporting this. What would you recommend?
04-17-2017 12:18 PM
If I understand what you posted correctly, you paid for your dependent son's insurance from Jan. 2016
through August 2016. Then the school paid for your son's insurance from Sept. 2016 through Dec. 2016.
Is that correct? If so, then he was covered by insurance all year and you have no insurance problems
when it comes to filing your 2016 tax return.
I hope that is correct and then I wish you good luck!