mrichman333 Posted March 11, 2019 Report Share Posted March 11, 2019 Am I missing something or is my software not calculating the penalty correctly. Married couple with a 1 dependent 21 years old full time student. Income is $133,000 I thought the MAX penalty was $2,085, my software is calculating $2,698 Quote Link to comment Share on other sites More sharing options...
jklcpa Posted March 11, 2019 Report Share Posted March 11, 2019 The cap is only for the flat dollar portion of the calculation. The determination is the greater of - 2.5% of the excess household income over filing threshold OR the amount calculated using the flat dollar amount for the family's size, flat dollar amount capped at $2,085 for 2018. 1 Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.