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Form 8965 El Cajon California: What You Should Know

In order to qualify as a child, you must be (1) under age 19 on November 15 of the tax year, (2) a U.S. resident, and (3) a member of the household in a qualifying relationship with the child. Form 8965: Health Coverage Exemptions — Community Tax Form 8965 is also used if you want to claim an exemption on your return for a non-income-producing activity, even if your income is subject to the tax. For additional information and forms, see “If you don't have a health insurance policy, here's what you need to know about the Affordable Care Act and “Tax credits and deductions for childless adults,” among other resources. The following are highlights from an analysis of Forms 8965 filed at the end of 2017, from over 3.3 million taxpayers. Over 8 million taxpayers filed Form 8965 without a qualifying child. The exemption from the individual mandate (the part of the Affordable Care Act requiring all Americans to have health insurance) is one of the main reasons that these people don't have coverage, and some of these people don't know it. Almost 1/3 of all taxpayers, 1.2 million in total, claimed the Health Coverage Exemptions on their return, but not in the same category, so they could have gotten a tax refund and a tax credit. Fully 2.7 million who filed a Form 8965 for their children only claimed either Exemption 1, which allows you to claim an exemption for your dependents on your own tax return; or Exemption 2, which allows you to exclude from self-employment taxes, including self-employment taxes at the highest marginal rate of 35% on some wages. The vast majority of these exemptions are being claimed by high-income families. Almost 2.5 million taxpayers (over half the total), 1.1 million in total, claimed the HE Exemption on their return, even though they only had a personal exemption of 9,400. That tax has always been a popular way for high-income people to avoid the individual mandate.

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