1095-A Allocation

[Jesse0831]

. I am filing single for 2023. I live with my 2 children age 24.  They are on my marketplace 1095-A. I cannot claim them for 2023 because of age. ( didn’t know this at time of enrollment)   How do I allocate properly. Form 1040 only has option to allocate to one person.  

[MayaD]

Your children will each indicate that he/she shared this policy with someone who is not on his/her tax return. You will indicate the same thing on your return.

TurboTax will ask you how you want to allocate the policy amount. When allocating any Advance Credit received, you have the option to claim 100% of the 1095-A on your tax return, or you can allocate part of it to your nondependent.  The allocation can be anywhere from 0% to 100%.  You all must agree to the allocation.

To enter your 1095-A form:

• Login to your account.
• Select Federal from the left menu.
• Go to Deductions and Credits.
• Scroll down to Medical.
• Select start next to Affordable Care act ( Form 1095-A)
• Enter the form and continue to the screen to allocate the amount between you and your children.