Both you and your parents need to enter a copy of Form 1095-A on your tax returns. TurboTax will ask you questions about if the policy was shared with someone and how to allocate the costs and credit. All of the percentages for your premium, your SLCSP, and your advance payment need to add up to 100% for everyone who shares the policy and enters it on their tax return.
The percentages should be an amount that everyone agrees on. It could be 50/50, 100/0, or another amount. Make sure you are in agreement and that the percentages on all tax returns add up to 100% together. TurboTax will calculate the information that should be on your return based on your answers.
- Login to TurboTax
- Select Federal and Deductions & Credits
- Scroll down to Medical and select Show More
- Select Start/Revisit next to Affordable Care Act (Form 1095-A)
- Answer yes, I received Form 1095-A
- Enter the information and select Continue
- Select I shared this policy with another taxpayer who’s not on my taxes and Continue
- On the next screen you will enter the SSN for the other person and the start and end months that you shared the policy with the other person
- You will also choose the percentages of the amounts you want to claim on your tax return. Both percentages should add up to 100%
- TurboTax will calculate the information that should be on your return based on your answers.
Review the TurboTax articles Where do I enter my 1095-A? and I'm on my parents' 1095-A form. What do I do on my return? for more information.
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