Asked by J
Clementine (43) is single with no dependents. Her modified adjusted gross income is $50,000. She did not have health insurance for all of 2024, and she does not qualify for an exemption.
What is the amount of her California Individual Shared Responsibility Penalty?
$0
$730
$900
$1,250
All Answers 1
Answered by
GPT-5 mini
AI
Answer: $900
Explanation:
- California’s penalty is the greater of (A) a flat dollar amount per adult ($730 for 2024) or (B) 2.5% of household income above the filing threshold.
- Filing threshold for a single filer (2024) = $13,850.
- 2.5% × ($50,000 − $13,850) = 2.5% × $36,150 = $903.75 → about $904.
Since $904 > $730, the penalty is about $904 (closest choice $900).
Explanation:
- California’s penalty is the greater of (A) a flat dollar amount per adult ($730 for 2024) or (B) 2.5% of household income above the filing threshold.
- Filing threshold for a single filer (2024) = $13,850.
- 2.5% × ($50,000 − $13,850) = 2.5% × $36,150 = $903.75 → about $904.
Since $904 > $730, the penalty is about $904 (closest choice $900).
Submit Your Answer
We prioritize human answers over AI answers.
If you are human, and you can answer this question, please submit your answer.