Based on your explanation, can you please review the following scenario?
I'm Elon Musk and I had an income of $1,000,000,000,000 last year.
I don't believe in health insurance and we didn't have any coverage.
My son lived with me until August and I believe that I covered most of his expenses until he decided to start a new live. He thinks that he covered most of his expenses though. So, turns out this decision is still on the table.
He became financially independent working as an employee in McDonalds. He had an income of $10000.
He enrolled in a Marketplace Health Insurance getting a significant tax credit (i.e. "discount" of $1800) to help cover the premiums.
He received the Form 1095-A.
Clearly, if I fill the return making him my dependent, I have to pay back those $1800 (because I'm not entitled to the Premium Tax Credit). On the other hand, if my dependent fills the return as "non-dependent" he would receive the credit but I will lose my dependent credit ($500).
What would you do to maximize the benefits and credit for everybody?
