Use this Obamacare fine calculator to estimate your 2014 ACA penalty. The fine, if any, is enforced as a result of the Shared Responsibility Payment under the individual mandate of the Affordable Care Act.
The amount is either 1% of your modified adjusted gross income (MAGI) or a flat rate amount, whichever was higher. You’ll need to know your 2014 income to calculate the 2014 penalty. Any IRS fine wasn’t payable until you filed a tax return in 2015.
Be sure to check if you qualify for an exemption, to avoid incurring an Obamacare fine, if you were without health insurance for 3+ months in 2014.
Above is the combined Obamacare fine for everyone included on your tax return. If the number is zero then you don’t owe anything!
Please Note the Following:
1. You will need to calculate fine amounts individually if some individuals on your return were without health insurance for different time-frames during 2014.
2. If you had a dependent child who turned 18 years old, sometime in 2014, then any Obamacare penalty attributed to them needs to be calculated separately.