Thanks to the two people who gave me links to find ouot the lowest cost Bronze Plan. The lowest cost Bronze Plan is was $400. For my taxpayer with $35k of income his subsidy would have been $300. 8% of his income is $2800. Do I compare the $2800 to 12 times $400 or 12 times $100 to see if he qualifies for penalty relief? I assume I compare to $1200 and he pays the $250 penalty but I am jsut guessing.
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You also need the second lowest cost silver plan and there's a worksheet in the instructions for 8965 on page 11.
There's a couple spreadsheets around to calculate it as well. http://forum.thetaxbook.com/showthre...237#post168237
But yes, in effect you'd end up looking at the premium cost to the taxpayer after subsidy.
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