Premium Tax Credits and form 8962

[username97]

I filed my 2019 taxes and was asked to file a form 8962. I'm a little confused about whether or not I HAVE to claim premium tax credits as I am reporting my taxes as an independent but my insurance was originally under my parent's plan. Based on the turbo-tax guidelines, I am supposed to report 33% of the premium tax credits but the specialist I spoke with said I can just put a 0 under the claimed amount so that my parents get the full claim and I don't owe taxes. 

In general confused as I'm going from being owed a couple thousand to suddenly owing more? 

[Critter]

Read the instructions for your situation here :   https://ttlc.intuit.com/community/health-care/help/i-m-on-my-parents-1095-a-form-what-do-i-do-on-my-...

[Carl]

but the specialist I spoke with said I can just put a 0 under the claimed amount so that my parents get the full claim and I don't owe taxes.

I'm surprised that someone who claims to be a specialist, would instruct you to file a fraudulent tax return.

If you were insured through a marketplace plan, regardless of who purchased the plan, you are required to file the 8962. If this is in response to a letter you received from the IRS you'll also need to provide a copy of the 1095-A. So if your parents purchased the plan you will need to get a copy of their 1095-A from them.

said I can just put a 0 under the claimed amount

That's a great way to raise flags and get audited.

I am reporting my taxes as an independent but my insurance was originally under my parent's plan.

Doesn't matter. If you are on any insurance plan through the marketplace, you have to "justify" your premium tax credit. If it was to high, then "you" have to pay it back. If your parents want to reimburse you what you have to pay back, then that's between you and your parents.

[username97]

Based on the instructions here I have the option to decide with my parents what percentage to claim on mine. 

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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%.

Example: Nate is working and not on his parents' tax return. He is on their Marketplace health plan and listed on their 1095-A. He didn't receive a 1095-A in his name.

He and his parents have to figure out how much of column A (monthly enrollment premiums), column B (monthly SLCSP), and column C (advanced payments) on their 1095-A will go on their return and Nate's return. They decided that Nate will enter 10% of those amounts on his return and his parents will enter 90% on their return. They could have decided to have 100% on the parents' return and 0% on Nate's return.

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Doesn't this mean that I can claim 0% on my return?

[Critter]

Yes you can claim zero and your parents 100%.