Deductions & credits

On the Let us know if these situations apply to you screen, check the box for I shared this policy with another taxpayer who's not on my taxes. 

Then on the next page, it will want you to divide the premium payments made on the policy between you and your parents. In come cases people split it 50-50. The IRS will compare the two returns and be sure that not more than 100% is claimed between them. If you were on your parents insurance, they are probably claiming 100% and you can claim 0%. You will want to check with them and be sure.