Yardley CPA Posted February 11, 2016 Report Share Posted February 11, 2016 My one client, Single Male, had health insurance from January 1 through September 30. How will this effect his return? Can someone give me a basic understanding. This is the first client I am dealing with that has partial coverage. Thank you. Quote Link to comment Share on other sites More sharing options...
Tax Prep by Deb Posted February 11, 2016 Report Share Posted February 11, 2016 Because he was without insurance for more than 2 months (short term gap exclusion) he will be subject to the shared responsibility penalty for the three months he did not have insurance unless he qualifies for one of the other exclusions. Quote Link to comment Share on other sites More sharing options...
Yardley CPA Posted February 11, 2016 Author Report Share Posted February 11, 2016 Client now informs me he had coverage from January 1 through November 14. I assume he qualifies for the short term gap exclusion? I would complete Part II and Part III of form 8965, placing an X in the December column of Part III and claiming exemption type B? Is that correct? Very much appreciate your input! Quote Link to comment Share on other sites More sharing options...
Tax Prep by Deb Posted February 12, 2016 Report Share Posted February 12, 2016 That would be correct! As long as he had insurance even for one day in a month it is considered coverage for the whole month. So he only missed December and thus qualifies for exemption type B marked December and your good to go! 1 Quote Link to comment Share on other sites More sharing options...
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