mrichman333 Posted March 11, 2019 Report 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
jklcpa Posted March 11, 2019 Report 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
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