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2014 Tax - Health Insurance Penalty after R2I

Posted: Wed Feb 18, 2015 1:08 am
by nepid
I left the US before 2014 year end and didn't have health insurance coverage for the entire year due to this reason. In 2014 health insurance is mandatory for the whole year and there is a penalty for lapses. Does anyone know how to handle this for R2I situation?

2014 Tax - Health Insurance Penalty after R2I

Posted: Wed Feb 18, 2015 7:07 am
by okonomi
If your tax-home is a foreign country, you will not have to make a "ACA-Individual-Shared-Responsibility payment".
You will be filling out another form (form 8965) with your tax returns for the calendar year 2014.
Check the IRS page on this matter, on the exemptions. http://www.irs.gov/Affordable-Care-Act/Individuals-and-Families/ACA-Individual-Shared-Responsibility-Provision-Exemptions
See exemption codes that you need to put into form 8965:http://www.irs.gov/instructions/i8965/ch01.html
nepid;594716I left the US before 2014 year end and didn't have health insurance coverage for the entire year due to this reason. In 2014 health insurance is mandatory for the whole year and there is a penalty for lapses. Does anyone know how to handle this for R2I situation?