health care penalty question

[Rapid Robert]

Remember--The son doesn't live with the father. NO requirement to claim at all.

Why do you keep on bringing up the residence as if it changes anything? Of course there is no "requirement" to take an exemption deduction, but the son is clearly a dependent, and cannot claim his own exemption, while the father can claim his son's exemption, whether he does or not. That makes son part of the father's family for purposes of the health coverage mandate. The language in many parts of the tax code is based on someone who COULD be claimed, whether actually claimed or not.

Will there be a penalty for no insurance-if son does NOT have insurance and father wants the exemption?

If you haven't figured it out yet, the answer to your question is "yes".

[taxitc]

Why do you keep on bringing up the residence as if it changes anything? Of course there is no "requirement" to take an exemption deduction, but the son is clearly a dependent, and cannot claim his own exemption, while the father can claim his son's exemption, whether he does or not. That makes son part of the father's family for purposes of the health coverage mandate. The language in many parts of the tax code is based on someone who COULD be claimed, whether actually claimed or not.



If you haven't figured it out yet, the answer to your question is "yes".

R R Thanks. I thought the answer would be "yes"- b/4 I posted. Now I can show the client how difficult it is to do taxes.
It is then dangerous for any individual to "Taking-In" a "Qualifying Relative" with no knowledge of SRP. TRUE? Is that a YES too? Repeal, Repeal! Being a good Joe doesn't pay anymore.