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The Affordable Care Act ( LO 7 . 4 ) Susan and Stein Collins live in Iowa are married and have two children a 6

The Affordable Care Act (LO 7.4) Susan and Stein Collins live in Iowa are married and have two children a 6 and 10 and 2022 Susan income is $43,120 and stan is $12,000 and both are self employees they also have 500 in interest income from tax exempt Bond. The Collins enrolled in health insurance for 2022 through the state exchange but did not elect to have the credit paid in advance. the 2022 form 109-A that the Collins recivedd from The Exchange lists the following information:
Annual premiums
$9,800
Annual premium for the designated benchmark plan in the state
$10,800
Table for Repayment of the Credit Amount
\table[[,Single,\table[[Taxpayers Other],[Than Single]]],[Less than 200%,$325,$650
Assume that Collins form 1095-A also indicate that the total Advance payment of the premium tax credit was $11,200 calculator the excess Advanced premium tax credit and the repayment amount for 2022

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