Under Filing Threshold Exemption for Self Employed

[RitaB]

I would think that an self-employed non-dependent making $6,000 would be exempt from ACA penalty because he's under the filing threshold for ACA purposes.  Agree?  Yes, I know he has a filing requirement and owes tax. 

[Jack from Ohio]

I would think that an self-employed non-dependent making $6,000 would be exempt from ACA penalty because he's under the filing threshold for ACA purposes.  Agree?  Yes, I know he has a filing requirement and owes tax. 

$6K profit or income?

[RitaB]

$6K profit or income?

 

Sorry, my bad.  Gross income, clergy W-2 box 1, Groundhog Day 2015.

 

I need more time to edit than I originally thought, apparently.

Edited February 2, 2015 by RitaB

[RitaB]

$6K profit or income?

 

Do you have an answer or just wondered if I knew to use gross income? 

 

Anyhow I'm hating having ACA questions over here all lonely and nobody looking and sniff, sniff. 

[jklcpa]

Rita, if this is a single person with no one else whose MAGI is included in his household income and the $6000 is the only income on his return and then he has the 1/2 of the s.e. tax to factor in to arrive at MAGI, then this person does meet the exemption from the penalty for his MAGI being under the filing threshold. It's covered in the instructions for 8965, part 2, lines 7a & 7b.

[RitaB]

Rita, if this is a single person with no one else whose MAGI is included in his household income and the $6000 is the only income on his return and then he has the 1/2 of the s.e. tax to factor in to arrive at MAGI, then this person does meet the exemption from the penalty for his MAGI being under the filing threshold. It's covered in the instructions for 8965, part 2, lines 7a & 7b.

T

OK, I see it in the "tip" under the chart, p.6.   Thank you, thank you, thank you.