Questions & Answers

What is my household income for the Unaffordable Coverage exemption?

For the purposes of Form 8965, your household income is your modified adjusted gross income (MAGI) plus the MAGI of each individual in your tax household who you claim as a dependent and who is required to file his or her own tax return.

For the purposes of Form 8965 your MAGI is your adjusted gross income on Form 1040, Line 37 plus your tax-exempt interest on Form 1040, Line 8b.

If the lowest-priced coverage available to you would cost more than 8.05% of your household income you could qualify for the unaffordable coverage exemption.

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