I have ACA Marketplace Plan with total of 3 people (self, spouse, child).
Child is not dependent on taxes but is on the ACA plan (household size is 3).
I have added child SS# to form 1095-A including the 'Shared Policy Smart Worksheet' with 100% allocation yet my subsidy did not increase with the this addition.
Note PTC form 8962 is still showing Tax Family Size as 2 and Fed Poverty Level still at family size of 2. Therefore TT is calculating my subsidy at 2 person household instead of 3.
How do I resolve..ie. get the proper subsidy on my taxes for a household size of 3?
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household size is 2 because you can't count those you do not claim as a dependent
from 8962 instructions
Determine the number of individuals in your tax family using your tax return. Your tax family generally includes you, your spouse if you are filing a joint return, and your dependents.
Here is the scoop ... on your return you will NOT enter the child, only you and your spouse. Then the child will enter only their infom from the 1095-A on their return. Then the allocation game begins ... between your joint return and the child's you need to decide on how to allocate the credit. You can use any % division you like as long as 100% of the credit is taken between the 2 returns. 100/0, 70/30, 60/40, 50/50, etc. In my experience, the child who has the lower income usually gets more credit than the parents so if you work together you can use this legal loophole to your advantage.
Bye, Bye Nancy Pelosi.
Thanks for everything, including ObamaCare, which Obama had nothing to do with.
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