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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The Tax Cuts and Jobs Act of 2017 repealed the shared responsibility payment, which is a penalty for not having minimum essential health coverage (and not being exempt from this requirement).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
Installment sale
A sale of property that allows for tax deferment if at least one payment is received after the end of the tax year in which the sale occurs. The installment method does not apply to year-end sales of publicly traded securities. Dealers may not use the installment method. Investors with very large installment balances could face a special tax.
