You will have to allocate the information on your 1095-A. This would be reported on your return as one percentage, and on their return as another percentage. You can allocate anywhere from 0% to 100%. This can be an agreement between you and your parents.
If you have a 1095-A to enter, log into your TurboTax account and follow these steps:
- Click on Deductions & Credits under Federal
- Under the menu for Medical, click Start/Revisit next to Affordable Care Act (Form 1095-A)
- Answer Yes indicating that you have the form to enter
- Complete the information on the next screen to match your form and click continue. Do not allocate on this screen.
- On the following screen, choose I shared this policy with another taxpayer who's not on my taxes
- On the screen that follows, provide the information for your parents and the allocation percentages
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