JimmyTheMan
Level 2
03-06-2020
09:10 AM
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The guy is filing single and his ex paid for their insurance the entire year but we will count it as if he paid for it. Looks like they kept the family coverage the entire year as the 1095A is consistent He had $30,192 in Social Security but the program is only counting $5670 as income Looks like his income is just over 2 times but not 4 times the Federal poverty level. Obviously its the pension that is killing him. Does he really $17K?
no regular income
| Interest income | 74 |
| Taxable pensions | 20,207 |
| Taxable social security benefits | 5,670 |
| Total income | 25,951 |
| Total adjustments | 0 |
| Adjusted gross income | 25,951 |
| Medical & dental | 20,990 |
| Taxes | 3,769 |
| Interest | 3,107 |
| Total itemized deductions | 27,866 |
| Standard deduction | 12,200 |
| Larger of itemized or standard deduction | 27,866 |
| Taxable income | -1,915 |
| Excess advance premium tax cr. repayment | 19,020 |
| Tax before credits | 19,020 |
| Total credits | 0 |
| Tax after credits | 19,020 |
| Tax on IRAs, other qual. ret. plans, etc | 2,021 |
| Total tax | 21,041 |
| Federal income tax withheld from 401K | 4,041 |
| Total payments | 4,041 |
| Amount you owe | 17,000 |
| Marginal tax rate | 0.0% |
| Excess advance premium tax cr. repayment | 19,020 |
