I have two adult children <25, who are not dependents. Thus I share a Marketplace policy with two additional "tax families"

It seems the Turbotax software only allows me to input coverage months and SLCSP percentages for one additional "tax family".   How do I enter the second child?

AmyC
Expert Alumni

Get your taxes done using TurboTax

Get your taxes done using TurboTax

Followup to this question.    This is more an operational question of how I enter information into Turbotax.

 

I am the owner of the healthcare plan.    I have two independent kids (essentially independent tax payer families) on the plan.  When I enter my 1095-A into TurboTax, I check the box that states "I share this policy with another taxpayer who is not on my taxes", and then I proceed to the next page, where I can enter the SSN of one person on the Health Care plan, and allocate the SLCSP % to that person for the months they were on the plan, HOWEVER, below that there is a statement that says:   "IF you share your marketplace plan with more than one person, contact us and we'll help you allocate plans".      Bottom line, it does not seem to indicate a way for ME to put the second person in.   So, here I am, contacting someone for operational help here. 

DianeW777
Expert Alumni

Get your taxes done using TurboTax

The link below will help you figure out what to put on your own tax return and what should be put on your child's return(s). 

 

The allocation percentage can be any amount between zero and 100% that is agreed upon by each taxpayer. If the taxpayers do not agree on an allocation percentage, then the allocation percentage is equal to the number of individuals enrolled by one taxpayer who are included in the tax family of the other taxpayer for the year divided by the total number of individuals enrolled in the same policy as the individual(s).

It is between all of you to figure out a percentage that works for all of you.  Test it on your return, then decide how much to allocate to your other children. 

 

This would be your percentage of premiums, SLCSP and advanced payment of the premium tax credit, then just provide the amount for each of them. They will need the 1095-A information for each of their returns plus the percentage allocated to them so that they can complete it accurately.

 

Review the various scenarios in the link below for assistance with your children's returns.

If you still want, you can start your contact by using this link: Contact us

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[Edited: 02/21/2021 | 10:13a PST]

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