1095-A adult child

[user17704894269]

I am listed as policy holder on my adult child's 1095-A form. We have separate policy numbers.  Can the child include this on their tax return and I exclude it from mine? Also do you think we signed up incorrectly for the premium health care credit??

[JamesG1]

I am listed as policy holder on my adult child's 1095-A form. 

It sounds like your child is listed on your IRS form 1095-A form?  Is that correct?  Does the child file their own income tax return separate from yours?

If this is the case, your IRS form 1095-A information needs to be reported on each tax return.  If this is not the case, please clarify.

I have no idea whether or not you signed up correctly since the facts are not clear.

In TurboTax Online, follow these steps:

• Down the left side of the screen, click Federal.
• Down the left side of the screen, click Deductions & Credits.
• Scroll down to Medical.  Click the down arrow to the right.
• Click Start / Revisit to the right of Health Insurance Marketplace (Form 1095-A).
• At the screen Policy shared with another taxpayer, click Yes to the question Did you share this policy with another taxpayer who is not included in this tax return.
• At the screen Tell us more about your shared policy, include the taxpayer information.

 The IRS requires that your percentages are agreed upon by all and that the percentages add up to 100%.

• Your Premium Percentage
• Your SLCSP Percentage, and
• Your Advanced Payment of PTC Percentage.

 Taxpayer 1's tax return should reference taxpayer 2.  Taxpayer 2's tax return should reference taxpayer 1.

See also this TurboTax Help.

[user17704894269]

• Thanks for the reply.
• We received two separate 1095A forms one with just me and a policy number and another again my name as the subscriber but his name as the insured person. Now when I do as you said and share it with someone else it still asks for his income and then is asking for a recoupment I assume based off my income plus his. If I allocate the shared percentages as 0% myself and 100% him that would change the asked recoupment if he had very little income (full time college student working part time for a little spending cash)? 

[Vanessa A]

Since they are a full time college student and working part time, are you claiming them on your tax return as a dependent?

If you ARE, then you would need to include the 1095-A on YOUR return and claim 100% and they would NOT add it to their return at all.

You are correct, it is based on your income plus his as the premium tax credit is based on household income. 

If you are NOT claiming them as a dependent on your return, then you would need to include it on your return and you could enter 0% as your shared allocation amount and 100% assigned to them.  

Yes, the credit would then be based of of their income which since it is lower would likely mean they would not need to repay the credit. But, again, if you are claiming him as a dependent, then you would not enter it on his return. 

What is the Premium Tax Credit?