Can you use any allocations on form 8962 when have two tax families?

[Vanessa A]

Yes, as long as they total 100% you can use any allocations that you choose between the 2 tax families. 

[eddiett]

Thanks for the info, that is what I'm also reading from other forums.  Just want to make sure so here are the facts.

Signed up for marketplace healthcare for my wife, under 26 year old son and myself.  I am filing a joint return with my wife and my son is filing a separate return.  I did receive the advance payment of premium tax credit.  

Its my understanding that as long as my son and I (two tax families) agree on the allocation we can use anything as long as it adds up to 100% between the two of us.  Also whatever % we agree to we should use on form 8962 for all columns A, B, and C. 

So assuming above is correct, my question is if that is the only rule "that we have to agree on allocation between us and that between us (both tax returns) that allocation has to add up to 100%.  

Thanks so much for the help...

[eddiett]

Signed up for marketplace healthcare for my wife, under 26 year old son and myself.  I am filing a joint return with my wife and my son is filing a separate return.  I did receive the advance payment of premium tax credit.  

Its my understanding that as long as my son and I (two tax families) agree on the allocation we can use anything as long as it adds up to 100% between the two of us.  Also whatever % we agree to we should use on form 8962 for all columns A, B, and C. 

So assuming above is correct, my question is if that is the only rule "that we have to agree on allocation between us and that between us (both tax returns) that allocation has to add up to 100%.  

Thanks so much for the help...

[MarilynG1]

Yes, you can allocate your 1095-A between your return and your son's, as long as they add up to 100%.

Enter the 1095-A with the amounts that are shown on the form, and TurboTax will ask if you 'shared the policy with someone not on your return'.  You'll give your son's info, and the % allocation you are using on your return.

On his return, your son will indicate he has a 1095-A and enter yours in his return, also indicating he 'shared' and the % of allocation.

You may change the % of Allocations on both returns to find the best situation for your family. 

Here's more info on How to Enter Form 1095-A and Allocating a 1095-A.