Susan is a single taxpayer, 26 years of age, with AGI of $28,000 and no tax-exempt income.
Question:
Susan is a single taxpayer, 26 years of age, with AGI of $28,000 and no tax-exempt income. She did not have minimum essential coverage for 8 months in 2018. Compute Susan’s individual shared responsibility payment for 2018.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 66% (9 reviews)
46333 The Flat Dollar Amount is 695 ...View the full answer
Answered By
Branice Buyengo Ajevi
I have been teaching for the last 5 years which has strengthened my interaction with students of different level.
4.30+
1+ Reviews
10+ Question Solved
Related Book For
Income Tax Fundamentals 2019
ISBN: 9781337703062
37th Edition
Authors: Gerald E. Whittenburg, Steven Gill
Question Posted:
Students also viewed these Business questions
-
James did not have minimum essential coverage for any part of 2018. If James is single and has 2018 adjusted gross income of $41,000, what is his individual shared responsibility payment? a. $0 b....
-
A ball with mass 0.85 kg is thrown upward with initial velocity 10 m/s from the roof of a building 20 m high. Assume there is a force due to |v|| air resistance of magnitude directed opposite to the...
-
A. Dr. George E. Beeper is a single taxpayer born on September 22, 1970. He lives at 45 Mountain View Dr., Apt. 321, Spokane, WA 99210. Dr. Beepers Social Security number is 775-88-9531. Dr. Beeper...
-
Describe the role of the police in contemporary society? 2. What does Alex Vitale argue? Do you agree with him? 3. Discuss the impact of the #Black Lives Matters protests. 4. How do you see the...
-
Assume the same facts as PA10-7, except that Surreal uses the simplifi ed effective-interest bond amortization method, as shown in supplement 10C. Required: 1. Prepare a bond amortization schedule....
-
Choose the best word in the sentences below. Rather than eliminate the department all at once, they decided to (faze/phase) it out gradually.
-
On September 2, 2012, Levine executed a mortgage bond under which she promised to pay the Mykoffs a preexisting obligation of $54,000. On October 14, 2015, the Mykoffs transferred the mortgage to...
-
Crabtree Co. purchased $60,000 of 6%, 15-year Thomas County bonds on June 20, 2014, directly from the county, at their face amount plus accrued interest. The bonds pay semiannual interest on May 1...
-
how we define abstract writing in detail?
-
1. Outline an internal control program that could be installed that would prevent or at least disclose irregularities such as those identified in this case. 2. Outline an internal audit program that...
-
John, a single father, has AGI of $51,000 in 2018. During the year, he pays $4,000 in qualified tuition for his dependent son, who just started attending Small University. What is Johns American...
-
Joan, a single mother, has AGI of $81,500 in 2018. In September 2018, she pays $5,000 in qualified tuition for her dependent son who just started at Big University. What is Joans American Opportunity...
-
Refer to Government Gs rate structure described in the preceding problem. Taxpayer O earns $50,000 annually during years 1 through 10. Taxpayer P earns $20,000 annually during years 1 through 5 and...
-
B-Rides, Incorporated, manufactures bicycles that can fold to a compact size. On March 15, the company receives a large order from a big box specialty retailer. Due to the size of the order, B-Rides...
-
Joe's starting salary is $80,000 per year. He plans to put 12% of his salary each year into a mutual fund. He expects his salary to increase by 5% per year for the next 30 years, and then retire. If...
-
Describe a person with whom you have worked who you believe is a leader. Only describe the person's behavior/traits and the situations in which you believe the person thrived. Do not characterize the...
-
Dr. Shih, owner of Healthy Hearing, keeps contact information for three hearing aid repair people because her practice could not function efficiently if a patient were unable to get his or her...
-
A strategic alliance enhances the performance and effectiveness of its two or more members via Group of answer choices a common mission statement. a formal agreement and common organizational...
-
On April 1, 2015, Tandem Corporation Ltd. issued $20,000,000 of 10-year 5.5% bonds at an effective interest rate of 6%, receiving cash of $19,256,126.26. Interest on the bonds is payable semiannually...
-
For all of the following words, if you move the first letter to the end of the word, and then spell the result backwards, you will get the original word: banana dresser grammar potato revive uneven...
-
In the current year, Mary started a profitable housekeeping business as a sole proprietor. She has ten housekeepers working for her and spends her time selling their services and coordinating her...
-
In the current year, Mary started a profitable housekeeping business as a sole proprietor. She has ten housekeepers working for her and spends her time selling their services and coordinating her...
-
Which of the following expenses is generally deductible in the year incurred? a. Capital expenditures for land and buildings b. Illegal bribes or kickbacks c. Continuing legal training for a...
-
The Morrit Corporation has $1,200,000 of debt outstanding, and it pays an interest rate of 8% annually. Morrit's annual sales are $6 million, its average tax rate is 25%, and its net profit margin on...
-
As an Investor, if I purchase a Corp Bond with a Coupon rate of 9%, and I am in the 30% tax bracket, effectively what rate will I be earning? Hint: If I purchased a Muni-Bond with an 8% Coupon rate,...
-
How can performance management systems be used to identify and nurture high-potential talent within the organization ?
Study smarter with the SolutionInn App