1095A

[mkjarvis4]

I received a 1095A listing me in Part 1 as the "Recipient".  The covered individual in Part II is my son.  He is not my dependent due to his age.  Who should be submitting the Form 8962, him or me?  He filed his taxes without it and now they are asking him for it.  I paid the premiums in case that matters.  I haven't filed my taxes yet so wondering if I should submit an Form 8962.

Thank you.

[VictoriaD75]

You both include the information from Form 1095-A on your return. When entering, you will indicate that the coverage is for someone who is not on your return. He will do the same. You can then allocate the shared percentage at any rate agreed upon, even 0% & 100%, as long as the total between your two returns is not greater than 100%. 

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

[AmeliesUncle]

If he is the only covered person on the 1095-A, it all goes on his tax return.  Do not enter it on your tax return.

[BillM223]

Victoria is correct.

Did you receive a 1095-A? I assume so.

In that case, you must enter the 1095-A on your return in order to generate the 8962.

The 8962 is the reconciliation of of your Premium Tax Credit (PTC), that is, did you get more than you were due or are you due more? The reason for the reconciliation is that your PTC was based on your estimated income at the start of the year. Now that you are at the end of the year and know your real income, the PTC has to be reconciled. 

In your case, since you got all the benefit of the PTC (you made the insurance premium payments), it would make sense to allocate 100% of the shared percentage to you and 0% to your son.

This is not only OK as Victoria pointed out, but quite normal in your case.

[AmeliesUncle]

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@BillM223 wrote:

Victoria is correct.

Did you receive a 1095-A? I assume so.

In that case, you must enter the 1095-A on your return in order to generate the 8962.

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That is only correct if there is ANOTHER covered person on the 1095-A and that person is on the OP's tax return.  If the non-dependent son is the only person listed, it does NOT go on the OP's tax return.  It ONLY goes on the son's tax return.  

[mkjarvis4]

Thank you for your response.  Going off Victoria's response, I went ahead and gave my son 99% and myself 1% as that seemed to give us both the most favorable deduction.  I hope that was ok?  He was the only one listed under "covered individuals" on the 1095A. It just had me as the "recipient".