TurboTax Release Tool Tells You If You Can Waive a Medical Penalty
The Affordable Care Act requires most of us to have health insurance or we must pay a premium. However, depending on your situation, you may qualify for tax exemption . This tool from TurboTax will tell you the likelihood of canceling the fine.
The free tool asks you a series of questions to see if you qualify for a penalty waiver. The questions are really simple and at the end of the questionnaire you will get a general idea of whether you qualify. The answer depends, among other things, on how much you earn, the size of your family, and the health care options you have.
The tool doesn’t provide a detailed answer, but it’s a good place to start if you just want to know what to expect during tax time. Check it out at the link below.
Checking the exemption from penalties | TurboTax