Asked by Apple joy!!! on Jul 16, 2024
Verified
Taxpayers who do not have qualifying health care insurance coverage can receive an exemption.Which of the following is NOT a permitted exemption?
A) Gross income greater than $10,400 for single taxpayers.
B) The cost of the lowest-cost coverage exceeds 8% of household income.
C) If the taxpayer went without coverage for one month during the year.
D) Income is below the level required to file an income tax return.
Qualifying Health Care Insurance
A health insurance policy that meets specified criteria set by government agencies to qualify for tax benefits or compliance with health care mandates.
Permitted Exemption
A deduction allowed under tax law that decreases the amount of income that is subject to taxation, based on specific criteria or eligibility.
Household Income
The combined gross income of all members of a household, used for various financial assessments.
- Identify qualifying conditions for health care insurance coverage exemptions.
Verified Answer
Learning Objectives
- Identify qualifying conditions for health care insurance coverage exemptions.
Related questions
If Viva,who Is 38,has Low Income,she Automatically Qualifies for Medicare,a ...
Regarding Beatriz's Assertion That the Insurer Was Not Liable for ...
________ Insurance Offers Protection Alone,and Is the Least Expensive Kind ...
Guadalupe Is an Eligible Employee Needing to Take Family and ...
Rizzo Obtains a Fire Insurance Policy on His Apartment Building ...