Yes, as long as the totals add up to 100%, you can allocate the premiums and SLCSP percentage however is best for you and your dad.
The IRS requires that your percentages are agreed upon by all and that the percentages add up to 100%.
- Your Premium Percentage
- Your SLCSP Percentage, and
- Your Advanced Payment of PTC Percentage.
Taxpayer 1's tax return should reference taxpayer 2. Taxpayer 2's tax return should reference taxpayer 1.
You may also review your scenario in this TurboTax Help.
@mukesh21
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