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Submitted By: someone
Answered: February 25, 2018 8:57 pm
Answered: February 25, 2018 8:57 pm
Does the individual mandate apply for 2018?
The Tax Cuts and Jobs Act of 2017 repealed the shared responsibility payment, which is a penalty for not having minimum essential health coverage (and not being exempt from this requirement). But the repeal doesn’t impact 2018; it only provides relief after 2018.
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Tax Glossary
Capital gain or loss
The difference between amount realized and adjusted basis on the sale or exchange of capital assets. Long-term capital gains are taxed favorably. Capital losses are deducted first against capital gains, and then again up to $3,000 of other income.
