1095-A and Form 8962 requested from IRS when I have received a 1095-B.

[pvo850]

My parents have me listed as a dependent on their 1095-A. I was a full-time student at that time but found a job in mid March of 2019 and have been working since. I decided to file my own taxes for 2020 and did not know that I was enrolled in health insurance from the marketplace. I have made around $30,000 since March and have received a 1095-B.

The IRS sent me a letter asking for a copy of my 1095-A and a completed Form 8962. How do I go about this situation? Do I have to file a 8962 using my parent's 1095-A or should I send them my 1095-B?

Any advice is greatly appreciated!

[ColeenD3]

Since you were on your parents' Marketplace insurance, you have to send the 1095-A and Form 8962. You do not report Form 1095-B.

You can allocate amounts since there are tax returns sharing the 1095-A. If your parents have already filed, there is a good chance they allocated themselves the full 100%. If not, between you decide how to allocate. It can be 33% per person or any way you choose as long as it adds up to 100%.

[pvo850]

Thank you so much for the reply. Sorry for my ignorance, I wish they taught us this stuff in school! 

Is there an easy way for filling out Form 8962 through TurboTax? If not, how should I go about getting the form filled out?

[JamesG1 · Accepted solution]

Here is how you complete IRS form 8962 in TurboTax.  

• Log into your return
• Select that you want to Add a state - this lets you into the program without the amend process starting.
• In the top right corner, locate the Magnifying glass/Search. 
• Enter the exact words 1095a.
• Select the first entry Jump to 1095a.
• Fill in the 1095a information.
• Print out IRS form 8962.

If you have filed your Federal tax return without form 8962, you will likely be notified by the IRS that you need to file form 8962 Premium Tax Credit.  

See also this help.

[laspencer40]

Thanks now I have to file a 8962 form

[VictoriaD75]

If you purchased insurance through the marketplace and received a 1095-A, that must still be reported on your return.This will calculate the Net Premium Tax Credit on Form 8962. This form reconciles the amount of the credit available to you with the amount already received as an Advance Premium Tax Credit. The result could be additional credit owed to you, or you may have to repay any amount already received in advance. Because of either of these results, it is important for taxpayers to include the information from Form 1095-A on their return.

Only the 1095-A needs to be entered on your return from insurance purchased through the marketplace. If you received a different 1095 form, such as one from employer benefits, you do not need to enter anything on your return. It is for your records only.

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