ACCT 205-Susan and Stan Collins live in Iowa, are married
Susan and Stan Collins live in Iowa, are married and have two children ages 6 and 10. In 2015, Susan’s income is $38,000 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 2015 through their state exchange but did not elect to have the credit paid in advance. The 2015 year-end Form 1095-A the Collins received from the exchange lists the following information:Annual premiums$9,800Annual premium for the designated silver plan in the state$10,800Federal Poverty Line for a family of four$23,850Compute the Collins’ premium tax credit for 2015. Click here to access the 2015 Applicable Figure Table. Do not round your calculations but round your final answer to the nearest dollar.
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