1. More Jack and Jill

2. Jack and Jill – Scenario 5 Quiz – NO COMPUTER
Same as scenario 1
MFJ, 1 adult dependent
No insurance all year
No employer offer of insurance
Change to $110,000 AGI
What is the SRP on line 61?
NTTC Training – TY2017

3. Jack and Jill – Scenario 5
What you know:
SRP = $695 x adults = $2,085
$2,085 is the maximum SRP
AGI = $110,000 > 400% FPL
Threshold = 8.16% of household income or approximately $9,000
NTTC Training – TY2017

4. Jack and Jill – Scenario 5
What you know:
LCBP = /mo (looked it up for 1)
No PTC because household income > 400%
Cost of insurance about $12,000 (1000/mo x 12mo)
Over 8.16% (10% of 110,000 = 11,000)
Insurance is unaffordable
SRP on 1040 line 61 = $0
NTTC Training – TY2017

5. NTTC Training – TY2017

6. Jack and Jill – Scenario 6
Same as Scenario 1
MFJ, 1 dependent
AGI $55,000
LCBP = $1,004.42
SLCSP = $1,210.55
Insurance is affordable
NTTC Training – TY2017

7. NTTC Training – TY2017

8. Jack and Jill – Scenario 6
From 1 March on they were residents of Johnson County
66215 zip code
LCBP = $1,130.98
SLCSP = $1,611.98
Insurance is affordable
NTTC Training – TY2017

9. NTTC Training – TY2017

10. Jack and Jill – Scenario 6
May 1 Jill starts a new job with offer of insurance
Self only $187
Family $400
Unaffordable for Jack and Jim
Affordable for Jill
NTTC Training – TY2017

11. NTTC Training – TY2017

12. Jack and Jill – Scenario 6
Jill buys self only coverage starting October 1 – MEC rest or year
Jack goes full time October 1 and gets offer of insurance
Self $186
Family $350
Affordable for Jack and Jim
NTTC Training – TY2017

13. NTTC Training – TY2017

14. Jack and Jill – Scenario 6
We made a couple of mistakes on Jacks offer of insurance
Family was $530 not $350
Self was $188 not $186
G exemption – applies to anyone on the return needing an exemption (H- 16)
NTTC Training – TY2017

15. NTTC Training – TY2017

16. Questions about SRP?
Comments
Questions
NTTC Training – TY2017