Homework Answers
Answer is C) . $4,200.
Single and dependant with low to moderate income i, e between 100 and 400% of federal poverty Line .
should file a retunr with the form 8963 in order to claim the credit...
the credit paid in advance to the insurance company or all the credit of ur tax return therefore the amount paid to enroll in a qualified health care plan through Marketplace at a cost of $4200 per year is the Dawyne's Premium tax credit.
Add Answer to:
ELO 9-9 45. Dwayne is single with one dependent. He enrolled in a qualified health care...
Taxation Question 45) Sam and Edna are married with three dependents. They enrolled in a qualified...
Taxation Question
45) Sam and Edna are married with three dependents. They enrolled in a qualified plan through the Marketplace at a cost of $4,900 per year. Their household income was S premium is $5,540. What is their premium tax credit? A) $786 B) $4,676. C) $4,900 D) $5,540. 64,500. Their SLCSP
Arturo and deena are married with two dependents. They enrolled in a qualified plan through the...
Arturo and deena are married with two dependents. They enrolled in a qualified plan through the marketplace at a cost of $2,700 per year. Their household income was $31,000. Their premium is $3,600. What is their premium tax credit.
1. All of the following are requirements for premium tax credit eligibility EXCEPT: For at least...
1. All of the following are requirements for premium tax credit eligibility EXCEPT: For at least one month of the year, __________ . A. Someone in the taxpayer's family was enrolled in a qualified health plan through the Marketplace. B. Someone in the taxpayer's family who was enrolled in a Marketplace plan was not eligible for minimum essential coverage every day of the month. C. Someone in the taxpayer's family who was enrolled in a Marketplace plan was eligible for...
Determine the appropriate number of Qualified Dependents for the following taxpayer: T) is unmarried and supports...
Determine the appropriate number of Qualified Dependents for the following taxpayer: T) is unmarried and supports his son and his son's wife, both of whom lived with him for the entire year. His son and daughter-in-law (both age 20) file a joint return to get a full refund, as their gross income was $3,500. Both son and daughter-in-law are full-time students at a local college. QUESTION 2 Identify the best Filing Status for the following taxpayer: Ted is divorced and...
Interview Notes • Sandra Clark is 45 years old. • Sandra works as a clerk and...
Interview Notes • Sandra Clark is 45 years old. • Sandra works as a clerk and earned $27,500 in 2019. • Sandra's daughter, Debbie, is 26 years old and she is not disabled. • Debbie lived with Sandra as a member of her household for all of 2019. • Debbie works as a receptionist and earned $18,250 in 2019. • Sandra purchased health insurance coverage for herself and Debbie on the same policy from the Marketplace for all of 2019....
The Affordable Care Act (LO 7.4) Susan and Stan Collins live in Iowa, are married and...
The Affordable Care Act (LO 7.4)
Susan and Stan Collins live in Iowa, are married and have two
children ages 6 and 10. In 2018, Susan's income is $38,290 and
Stan's is $12,000 and both are self-employed. They also have $500
in interest income from tax exempt bonds. The Collins enrolled in
health insurance for all of 2018 through their state exchange but
did not elect to have the credit paid in advance. The 2018 Form
1095-A that the Collins...
Problem 7-17 The Affordable Care Act (LO 7.4) Susan and Stan Collins live in Iowa, are...
Problem 7-17 The Affordable Care Act (LO 7.4) Susan and Stan Collins live in Iowa, are married and have two children ages 6 and 10. In 2018, Susan's income is $38,290 and Stan's is $12,000 and both are self-employed. They also have $500 in interest income from tax exempt bonds. The Collins enrolled in health insurance for all of 2018 through their state exchange and elected to have the credit paid in advance. The 2018 Form 1095-A that the Collins...
Serena is a 40-year-old single taxpayer. She operates a small business on the side as a...
Serena is a 40-year-old single taxpayer. She operates a small business on the side as a sole proprietorship. Her 2018 Schedule C reports net profits of $5,624. Her employer does not offer health insurance. Serena pays health insurance premiums of $7,545 in 2018. Serena also pays long-term care insurance premiums of $600 in 2018. Calculate Serena’s self-employed health care deduction. $____________ Evan participates in an HSA carrying family coverage for himself, his spouse, and two children. In 2018, Evan has...
Roberta Wilson is 63 years old and single. Her grandson, Jacob, is 9 years old and...
Roberta Wilson is 63 years old and single. Her grandson, Jacob, is 9 years old and lived with her all year. Roberta paid all household expenses and Jacob qualifies as her dependent. Roberta and Jacob are both U.S. citizens and have valid Social Security numbers. Roberta claimed EIC for Jacob on her 2015 tax return, but he only lived with her for 2 months and the credit was disallowed. Roberta had wage income of $35,000 in 2018. She is not...
• Roberta Wilson is 63 years old and single . • Her grandson, Jacob, is 9...
• Roberta Wilson is 63 years old and single . • Her grandson, Jacob, is 9 years old and lived with her all year . Roberta paid all household expenses and Jacob qualifies as her dependent. • Roberta and Jacob are both U .S . citizens and have valid Social Security numbers . • Roberta claimed EIC for Jacob 2 years ago, but he only lived with her for 2 months and the credit was disallowed . • Roberta had...
Taxation Question
45) Sam and Edna are married with three dependents. They enrolled in a qualified plan through the Marketplace at a cost of $4,900 per year. Their household income was S premium is $5,540. What is their premium tax credit? A) $786 B) $4,676. C) $4,900 D) $5,540. 64,500. Their SLCSP
Determine the appropriate number of Qualified Dependents for the following taxpayer: T) is unmarried and supports his son and his son's wife, both of whom lived with him for the entire year. His son and daughter-in-law (both age 20) file a joint return to get a full refund, as their gross income was $3,500. Both son and daughter-in-law are full-time students at a local college. QUESTION 2 Identify the best Filing Status for the following taxpayer: Ted is divorced and...
Interview Notes • Sandra Clark is 45 years old. • Sandra works as a clerk and earned $27,500 in 2019. • Sandra's daughter, Debbie, is 26 years old and she is not disabled. • Debbie lived with Sandra as a member of her household for all of 2019. • Debbie works as a receptionist and earned $18,250 in 2019. • Sandra purchased health insurance coverage for herself and Debbie on the same policy from the Marketplace for all of 2019....
The Affordable Care Act (LO 7.4)
Susan and Stan Collins live in Iowa, are married and have two
children ages 6 and 10. In 2018, Susan's income is $38,290 and
Stan's is $12,000 and both are self-employed. They also have $500
in interest income from tax exempt bonds. The Collins enrolled in
health insurance for all of 2018 through their state exchange but
did not elect to have the credit paid in advance. The 2018 Form
1095-A that the Collins...
Most questions answered within 3 hours.
-
The rise of online shopping and Amazon, in particular, has
created major dilemmas for large food/CPG...
asked 8 minutes ago -
Assuming that the wave speed varies little when sound waves are
traveling through a material that...
asked 9 minutes ago -
Is oxygen difluoride polar or nonpolar?
nonpolar
polar
ionic
none of the above
asked 19 minutes ago -
Starting from rest, a car accelerates at a constant rate of 2.6
m/s2 for a time...
asked 16 minutes ago -
A pharmaceutical company wants to answer the question whether
time for a drug in pill form...
asked 19 minutes ago -
) Assume that in the market for widgets, demand is highly
elastic compared to supply. If...
asked 29 minutes ago -
Why is a personal interview the most important step in the sales
selection process? What are...
asked 39 minutes ago -
In Python rOverlap (x1, y1, w1, h1, x2, y2, w2, h2) A rectangle
is axis-aligned if...
asked 39 minutes ago -
If we observe in a protein solution that DNA is causing a
mixture 260/280 ratio ~0.9,...
asked 50 minutes ago -
Explain the steps involved in making cDNA from mRNA, and how you
would create a cDNA...
asked 50 minutes ago -
A beta (β) particle is described by which of the following?
Select the correct answer below:...
asked 53 minutes ago -
A new machine costs $150,000, lasts 10 years, has an annual
O&M cost of $50,000, and...
asked 56 minutes ago