18. Matthew is eligible to deduct qualified educator expenses in the amount of $____________
If the total amount of David's net premium tax credit is $696, as stated, this would be the amount that he can claim on his tax return. The net premium tax credit is a refundable credit that helps eligible individuals and families cover the premiums for their health insurance purchased through the Health Insurance Marketplace. Here's how it works: 1. David would have received a Form 1095-A from the Marketplace, which provides information about the insurance policy, including the amount of the premium, the amount of the advance premium tax credit (APTC) received (if any), and the second lowest cost Silver plan (SLCSP) premium. 2. David would use the information from Form 1095-A to complete Form 8962, Premium Tax Credit (PTC). This form is used to reconcile the amount of APTC received with the amount of PTC he is eligible for based on his final income for the year. 3. If the PTC calculated on Form 8962 is more than the APTC received, David is entitled to the difference as a net premium tax credit, which he can claim on his tax return. This would increase his refund or decrease the amount of tax he owes. 4. If the PTC calculated is less than the APTC received, David would have to repay the excess, subject to certain repayment caps based on his income level. Since you've stated that David's net premium tax credit is $696, this amount would be
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