Should I claim 100 percent of my parents 1095a if it gives us both bigger refunds, I’m filing separate but was on their insurance. Or does the percent depend on income?

Forum|Forum|4 years ago
March 2, 2022
3 replies
8 views

When my parents claim their tax credit (from1095a) they owe, when I claim it on mines I get a bigger refund and so do they. I’ve seen answers about having to do percentages of the tax credit between different tax payers on the insurance. So could I enter the whole tax credit on my end and my parents enter zero on theirs ? Or do you have to do percentages by the income you provided to marketplace ?

TurboTax Online

JamesG1

Level 15

The IRS requires that the percentages are agreed upon by all and that the percentages add up to 100%.

You may claim 100% on your tax return as long as it is agreed upon.

When reporting the 1095-A, the parent tax return should reference your tax return and your tax return should reference the parent tax return.

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rawinder757-gmaiAuthor

Level 2

So my parents would enter zero for lines 33 a,b and c and I’d enter the amounts on 1095a form ? For 100% premium tax credit

also how do you reference each others tax forms

MarilynG

Level 15

If you are on a Marketplace plan with your parents, but not on their tax return (and you didn't receive your own 1095-A), TurboTax will ask you to enter a 1095-A.

You'll enter the info from your parents' 1095-A. The next screen will ask you about your health plan being shared, so check the box.

Then you'll see a screen asking for shared policy info. You enter the following:

Enter the social security number in box 5 (recipient's SSN) on your parents' 1095-A
Enter the starting month and ending month that you had the insurance

Now you'll be asked to enter percentages for Your Premium, Second lowest cost silver plan (SLCSP) and advanced payment.

You should see amounts on your parents’ 1095-A, column A, B, and C. You and your parents should agree on what percentage of those amounts you’ll claim on your return, and what percentage they’ll claim on theirs. You can use anything from 0-100%, as long it all adds up to 100%.

Click this link for more info on Shared 1095-A.

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