topic FORM 1095A in Deductions & credits

FORM 1095A

NICHOLAST — Mon, 30 Mar 2020 02:46:23 GMT

Hi there,

I received a letter from IRS to send form 1095A along with form 8862. However, I didn't received one.

In my father's 1095A i was covered for one month only. That was January. IRS wants me to calculate the percent of allocation of the policy. Could you help me do that? The policy covered my parents and myself.

Re: FORM 1095A

VictoriaD75 — Mon, 30 Mar 2020 03:02:14 GMT

You will still need to report a 1095-A on your return. You will indicate that the policy is shared with someone who is not on your return. You can choose any allocation percentage agreed upon, even 0% & 100%, as long as the total between both returns is not greater than 100%.

If you purchased insurance through the marketplace and received a 1095-A, that must still be reported on your return.This will calculate the Net Premium Tax Credit on Form 8962. This form reconciles the amount of the credit available to you with the amount already received as an Advance Premium Tax Credit. The result could be additional credit owed to you, or you may have to repay any amount already received in advance. Because of either of these results, it is important for taxpayers to include the information from Form 1095-A on their return.

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

Re: FORM 1095A

NICHOLAST — Mon, 30 Mar 2020 03:45:27 GMT

Thanks for your answer. The confusion arises from the fact that the 1095A is under my father's name and i file separately. Should i enter the amounts for all the months the coverage was on the form 1095A or just the one month that i was included in the form.

Thanks again

Re: FORM 1095A

VictoriaD75 — Mon, 30 Mar 2020 03:52:51 GMT

Include everything on the form exactly. Just be sure to indicate that it is a shared policy and assign those allocation percentages.