topic Re: Form 8962 in Get your taxes done using TurboTax

Form 8962

Stacyndanny — Sat, 11 Jan 2025 19:20:56 GMT

I’m confused with the tax premium credit and who actually files it on their taxes. I claim my adult child as a dependent, last year he got market place insurance. My question is, who files it on their taxes, me or him? And do I still claim him as a dependent?

Re: Form 8962

RobertB4444 — Tue, 14 Jan 2025 20:16:42 GMT

If he has a separate marketplace insurance plan then he needs to file a separate tax return and if you claim him as a dependent he may need to repay all of the subsidies he took.

If he is on your marketplace insurance plan then you can claim him or not claim him as you see fit. If you choose not to claim him then you will divide the amounts on the 1095-A by however many family members there are and put his share on his tax return and the rest on your tax return.

@Stacyndanny

Re: Form 8962

Stacyndanny — Wed, 15 Jan 2025 12:01:01 GMT

I claim him as a dependent because he didn’t start working until the end of the year. He is the only one with the market place insurance, but the 1095-A came in my name. So I’m assuming I have to claim it on my taxes?

Re: Form 8962

Stacyndanny — Wed, 15 Jan 2025 12:01:56 GMT

@RobertB4444

Re: Form 8962

LindaS5247 — Thu, 16 Jan 2025 21:29:40 GMT

Yes, you should include the Form 1095-A on your tax return since you received the Form 1095-A in your name and assuming your son meets the requirements as your dependent.

Click here for additional information regarding entering your Form 1095-A.

Click here for additional information on Form 1095-A and the Premium Tax Credit.