What is the Individual Shared Responsibility Penalty amount Jacob and Mekayla must pay when they file their tax return?

The Individual Shared Responsibility Penalty is assessed on individual taxpayers who do not maintain minimum essential health coverage as mandated by the Affordable Care Act (ACA). The penalty, often referred to as the "individual mandate," can vary based on factors such as income, household size, and duration of coverage gaps.

In this scenario, the specific amount of $2,451.08 represents the calculated penalty that Jacob and Mekayla face based on their specific circumstances. This could include factors like their combined household income, their family's structure, and the duration they were uninsured during the tax year. The penalty is typically calculated using the greater of a flat rate per person or a percentage of income above a certain threshold.

The other amounts provided in the options likely do not align with the IRS's calculations for this couple's situation. It is critical to refer to current tax guidelines and tables provided by the IRS to ensure accurate penalty amounts, as the shared responsibility payment can evolve annually based on legislative changes and updates to the ACA provisions. Understanding these facets highlights why the $2,451.08 penalty accurately reflects their obligation when filing their tax return.