No, you do not have to manually calculate it. TurboTax will automatically divide up the numbers using your percentage if you follow these steps:
- In Federal > Deductions & Credits scroll down to Medical and click Start/Revisit next to Affordable Care Act (Form 1095-A)
- Enter the information as it appears on Form 1095-A
- Let us know if these situations apply to you click I shared the policy with another taxpayer who's not on my taxes.
- Enter the allocation information that you have determined, including the start and end months that you shared this policy with your child. Please note, the three percentages must be equal, if you are sharing 50% of the premium percentage, you must also share 50% of the SLCSP percentage and the advanced payment of PTC percentage.
On your son's return, if he was only covered by your policy from January through June, you would only enter the 1095-A information for those months. You would use the numbers as they are reported on the 1095-A, and allocate 50% of it to you.
