Open TurboTax

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
Announcements
Your taxes, your way. Get expert help or do it yourself. >> Get started
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

cancel
Showing results for 
Search instead for 
Did you mean: 
yawnyonknee
New Member

1095-A Allocation

I was on my parents Healthcare insurance for the year but I am filling on a different tax return. How do I find what the cost would be for only me?
2 Replies
WillK
Level 9

1095-A Allocation

Allocating the percentage to those on the 1095-A really depend on the personal tax situation for all involved. There isn't a set amount that has to be allocated. In many instances, parents will allocate the amount that their children contribute to the insurance, so if the child pays $0 towards it, they do not allocate anything to them. It is okay to claim 0% on your return. 

Get with your parents and see what they have reported or will report and you can all decide together. One method to determine as well as how much the insurance costs for you, this will not be reported on the 1095-A, you would need to see the specific plan to get that number. 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
WillK
Level 9

1095-A Allocation

Allocating the percentage to those on the 1095-A really depend on the personal tax situation for all involved. There isn't a set amount that has to be allocated. In many instances, parents will allocate the amount that their children contribute to the insurance, so if the child pays $0 towards it, they do not allocate anything to them. It is okay to claim 0% on your return. 

Get with your parents and see what they have reported or will report and you can all decide together. One method to determine as well as how much the insurance costs for you, this will not be reported on the 1095-A, you would need to see the specific plan to get that number. 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

About Community

Learn about taxes, budgeting, saving, borrowing, reducing debt, investing, and planning for retirement.

3.49m
Members

2.62m
Discussions

Manage cookies
v