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  86) Cooper a single dad with 1 child and his

Question :   86) Cooper a single dad with 1 child and his : 2125635

 

86) Cooper is a single dad with 1 child and his total tax liability for the current tax year is $2,100. His EIC amount is $3,094 and he had no withholdings during the year. What amount of tax refund or tax owed would be on Cooper's tax return?

A) $0.

B) $994 tax refund.

C) $2,100 tax owed.

D) $3,094 tax refund.

87) Which of the following statements is correct?

A) Taxpayers with household income which is more than 400% of the Federal Poverty Level are eligible to claim the premium tax credit.

B) The premium tax credit is only available when the taxpayer files his or her tax return.

C) The premium tax credit is designed to help eligible taxpayers pay some of their health insurance premium.

D) Taxpayers who receive a credit are not required to file a federal tax return.

88) 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 SLCSP premium is $3,600. What is their premium tax credit?

A) $620.

B) $2,700.

C) $2,980.

D) $3,600.

• The health plan premium of $2,700 per year, or

• $2,971, which is their SLCSP cost of $3,600 minus their contribution amount of $629.

89) 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 $64,500. Their SLCSP premium is $5,540. What is their premium tax credit?

A) $786.

B) $4,676.

C) $4,900.

D) $5,540.

• The health plan premium of $4,900 per year, or

• $786, which is their SLCSP cost of $5,540 minus their contribution amount of $4,754.

90) Tuan and Marisa are married, file a joint return, and have two dependent children, Zack, age 6 and Aaron, age 5. Tuan has earned income of $72,000. Marisa was a full- time student (for nine months) with no income. They paid a qualified day care center $5,000. How much is Tuan and Marisa's child and dependent care credit for the year?

A) $600.

B) $900.

C) $1,000.

D) $1,200.

 

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