Question
13. Susan and Stan Collins live in Iowa and are married and have two children ages 6 and 10. In 2014, Susan's adjusted gross income
13. Susan and Stan Collins live in Iowa and are married and have two children ages 6 and 10. In 2014, Susan's adjusted gross income is $38,000 and stands is $12,000 and both are self-employed. They also have $500 in interest income from tax-exempt bonds. The Collinses enrolled in health insurance for all of 2014 through their state exchange but did not elect to have the credit paid in advance. The 2014 year end form 1095 A the Collins received from the exchange lists the following information:
Annual premiums....................................................................... $9,800
Annual premium for the designated silver plan in the state...... $10,800
Compute the Collins' premium tax credit for 2014.
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