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Level 1

1095-A and dependent child filing his own tax return

I have read some discussions but still confused about filing 8962.


A family has a 20 yo son who is a student and has his own $10k income.  They claim him as a dependent and he also filed his own tax return. They received 1095-A with monthly advance payment of PTC listing him and his parents.

Can they file 8962 only with parents' return? Or there is a more beneficial way to file, like allocating part to his own return?


Thank you!


3 Replies
Level 15

1095-A and dependent child filing his own tax return

The 1095-A is reported on BOTH the parents & the child's return  AND the advance credit can be prorated anyway you wish as long as the total between the 2 returns is 100% .... SO  both returns need to be completed using a combination on each return that totals 100% ... for instance 0% on the parents + 100% on the child  OR   50% on each  OR  25% + 75%  OR  any other combination that works best for BOTH returns combined.  


I highly suggest you use the Downloaded Deluxe version ( Basic if you don't need a state return) so you can complete both returns and keep trying different % combinations until you find the best one. 

Not applicable

1095-A and dependent child filing his own tax return

on your 8962, you must include his modified AGI (MAGI) on line 2b.   for your son that would most likely be his adjusted gross income unless he receives social security or has other exempt income.  in that case refer to 8962 instructions for worksheets to compute MAGI

Brian T2
Level 1

1095-A and dependent child filing his own tax return

The IRS instructions explicitly say that a dependent's MAGI is included in the household MAGI if the dependent is REQUIRED to file a tax return (not just filing to claim refund of withholding). This kid has $10,000 of income so is likely not required to file and would not be included in the household MAGI. Turbotax simply does not handle this correctly so causes folks to overpay their taxes.

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