TP & wife both have health coverage and claim son as dependent. Son (30) who lives with them does not have health coverage, but does not make enough income to meet the filing threshold. Does the son qualify for an exemption on his own? He would meet both the "Income below filing threshold" and the "Affordability" exemptions due to cost over 8% of his income. BUT since he is a member of the household of his parents, I have figured up the SRP for them and it is about $480.
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Yep, they owe the penalty. Otherwise, EVERY child that doesn't have income would be penalty free.
Just double check that his income is below $3950, or they can't claim him as a dependent. -
That's what I thought, but once I get into all this stuff, I start second-guessing myself since it is all so new. He just has one W-2 and it doesn't make the threshold.Comment
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