My daughter graduated from college in May and started working full time, with company-provided insurance on July 15th of this year.
She was on our ACA marketplace plan. I called up when she was getting her insurance setup with her new employer and we switched our ACA plan down by one dependent (removing our daughter from the plan).
How do I go about reconciling this when I file my 2019 taxes? In the past couple of years while we've had an ACA plan - we've received form 1095-A. I'm not sure, based on looking at last year's form - how it knows that I removed a dependent from coverage? Is there some methodology to go about calculating how this works? I feel like I shouldn't be claiming my daughter's income (at least not all of it) in the Premium Tax Credit calculation - but not sure how this is going to play out. I'm trying to determine roughly how much I'll make, to get an estimate of if the Premium Tax Credit we get is close or if we'll owe more money when we do taxes.
One final note: in 2018 (and previous) my daughter has been claimed as a dependent on our taxes. For 2019 she will not be claimed as a dependent. She is single.
Any help on this is very much appreciated!
Thanks,
Lance
