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Get your taxes done using TurboTax
You will need to enter it on your return, then select I share this policy with another taxpayer. Then you will be able to allocate an amount to you and your parents. You can claim 0% or 100%, they can do the same as long as it adds up to 100%. Many times parents paid the premiums and will allocate the full amount to themselves, while the kids just enter the form and allocate 0%. Just check with your parents to see how much they claimed for themselves.
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‎April 7, 2025
5:33 AM