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Deductions & credits
You can allocate the percentage of the shared policy in any manner chosen, even 100% / 0%, as long as the total between the parties on the policy does not exceed 100%. The advance premium tax credit is all based on income. We cannot determine what the best allocation would be for you. Try different allocation percentages to determine the result most favorable to the taxpayers.
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‎July 10, 2020
5:21 AM