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IRS Enrolled Agent Unit 15 Question and answers rated A+ Laverne had Minimum Essential Coverage (MEC) all year. On which form would she report her qualifying coverage? A. Form 1040, Other taxes B. Form 8965 C. Form 1095-A D. Form 1095-B - correct answers A. Taxpayers who have Minimum Essent...

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  • March 21, 2025
  • 6
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • irs enrolled agent unit 15 question and answers ra
  • irs enrolled agent unit 15

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IRS Enrolled Agent Unit 15 Question and
answers rated A+
Laverne had Minimum Essential Coverage (MEC) all year. On which form
would she report her qualifying coverage?
A. Form 1040, Other taxes
B. Form 8965
C. Form 1095-A
D. Form 1095-B - correct answers A. Taxpayers who have Minimum Essential
Coverage all year will indicate this on Form 1040, page 2, by checking the box
in the "other Taxes" section. Answer B is incorrect because coverage
exemptions are reported on Form 8965. Answers C and D are incorrect
because these forms are used by the Marketplace and employers, not
individual taxpayers.


Terry and Lulu are married but choose to file separately because of Terry's
past-due child support. Their household income for 2015 is at 200% of the
federal poverty line. They enroll in the federal Marketplace for health
coverage, which they had for 2015. Which of the following statements is true?
A. They are not eligible for the Premium Tax Credit because their household
income is too high.
B. They are not eligible for the Premium Tax Credit because of their filing
status.
C. They are not eligible for the Premium Tax Credit and will owe a shared
responsibility payment.
D. They are eligible for the Premium Tax Credit - correct answers B. Terry and
Lulu have minimum essential coverage because they purchased health
insurance through the federal exchange and had it for each month of the year.
However, they are not eligible for the Premium Credit because they file
separate returns. Unless one of a limited number of exceptions applies, a
married couple cannot claim the credit unless they file jointly.

, Which of the following taxpayers would be subject to the additional Medicare
tax in 2015?
A. Randy, who files as HOH and earned $18,000 of wages and $50,000 of
investment income.
B. Kerrie, who is single and earned $196,000 of compensation, fringe
benefits, and bonuses.
C. Liz, who files separately from her husband and earned $140,000 of wages.
D. None of the above. - correct answers C. The additional Medicare tax is
applied to MFS taxpayers whose earned income exceeds $125,000 in 2015.
Liz will owe and additional .9% tax on the $15,000 of earned income that
exceeds the $125,000 threshold (!5,000 x .009 = $135 additional Medicare
tax).


Which of the following taxpayers would not be subject tot he net investment
income tax (NIIT)?
A. An estate
B. A nonresident alien
C. A trust
D. An individual with only rental income in 2015. - correct answers B. A
nonresident alien would not be subject to the net investment income tax. The
net investment income tax applies to individuals, estates, and trusts. Only
U.S. citizens and U.S. residents are subject to the tax.


In 2015, Suzanne had health insurance through her employer for every month
of the year. She does not receive Form 1095-B from her employer. All of the
following statements are correct except:
A. Suzanne must attach proof of her insurance coverage when she files her
income tax return.
B. Suzanne will not owe the individual shared responsibility payment.

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