If you are filing a joint return, there is no need to mark the shared policy box. You only need to mark the box and enter percentages if you are sharing the policy with someone NOT on your tax return. You can go back and uncheck the shared policy box and skip this if you are filing a joint return with your wife.
If you share a policy with someone outside your tax family, you must enter the shared percentages. You and the other party can decide the percentages.
- Agree on Percentages: All parties involved can mutually agree on a percentage split (e.g., 75/25 or 100/0) for enrollment premiums, the Second Lowest Cost Silver Plan (SLCSP) premium, and Advanced Premium Tax Credit (APTC).
- Ensure Total is 100%: The percentages allocated to each party must add up to 100%.
- Use Consistent Percentages: The same percentage must be applied to all three figures (Premiums, SLCSP, and APTC) for each month.
Allocating policy amounts - IRS, Form 8962
