Which of the following taxpayers may qualify for the Premium Tax Credit? Each purchased health care coverage through the Healthcare Marketplace, and each received Form 1095-A, Health Insurance Marketplace Statement. None received unemployment income.

Which of the following taxpayers may qualify for the Premium Tax Credit? Each purchased health care coverage through the Healthcare Marketplace, and each received Form 1095-A, Health Insurance Marketplace Statement. None received unemployment income.

Income Tax Fundamentals 2020

38th Edition

ISBN:9780357391129

Author:WHITTENBURG

Publisher:WHITTENBURG

Chapter1: The Individual Income Tax Return

Section: Chapter Questions

Problem 10MCQ

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Question

Which of the following taxpayers may qualify for the Premium Tax Credit? Each purchased health care coverage through the Healthcare Marketplace, and each received Form 1095-A, Health Insurance Marketplace Statement. None received unemployment income.

Alanis. She files single and her tax liability is zero.

Caleb. He and his spouse file married filing separately, but live in the same house.

Jordan. He files head of household and was eligible for employer-sponsored coverage, but he chose not to enroll in the plan because it would have cost him 5% of his household income.

Sydney. She files single and will be claimed as a dependent on her grandmother's return.

Definition Definition State in which an individual is without work, despite actively seeking employment opportunities. The unemployment rate refers to the percentage of the workforce that is currently unemployed. Unemployment is one of the key indicators of the conditions prevailing in an economy. It is therefore considered a barometer that points out the condition of an economy.

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