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How do I allocate policy amounts on part IV of form 8962? I'm claiming my daughter on my return but her mother had her on a marketplace plan in 2017.

 
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10 Replies
Coleen3
Intuit Alumni

How do I allocate policy amounts on part IV of form 8962? I'm claiming my daughter on my return but her mother had her on a marketplace plan in 2017.

You can indicate that you shared the policy and prorate.  The pro-rations must add up to 100%. You can also click on the blue link.  What percentage of the following policy amounts do you want to claim on your tax return?  See "How do I figure out these percentages?" when you get to that screen.

Child/Children on another tax return

If you share a policy with someone who is claimed on another tax return (usually a child), you can take the number of people on your tax return who are covered on that plan and divide it by the total number of people on the plan. This would be your percentage of premiums, SLCSP and advanced payment of the premium tax credit, unless you agreed on a different number beforehand.

How do I enter a 1095-A when my situation is a little complicated?

If you're not sure how to enter your 1095-A, select the link below that matches your situation for more information:

How do I allocate policy amounts on part IV of form 8962? I'm claiming my daughter on my return but her mother had her on a marketplace plan in 2017.

So if I wanted to allocate 0% to myself, then would I put the policy number, her mother's SSN, and 0% for all three percentages?
Coleen3
Intuit Alumni

How do I allocate policy amounts on part IV of form 8962? I'm claiming my daughter on my return but her mother had her on a marketplace plan in 2017.

Yes. This would be your percentage of premiums, SLCSP and advanced payment of the premium tax credit, unless you agreed on a different number beforehand.

How do I allocate policy amounts on part IV of form 8962? I'm claiming my daughter on my return but her mother had her on a marketplace plan in 2017.

Thank you for your help!
Coleen3
Intuit Alumni

How do I allocate policy amounts on part IV of form 8962? I'm claiming my daughter on my return but her mother had her on a marketplace plan in 2017.

You're welcome. I'm glad it was helpful.

How do I allocate policy amounts on part IV of form 8962? I'm claiming my daughter on my return but her mother had her on a marketplace plan in 2017.

Once you fill out part IV as zero what goes on part III?

How do I allocate policy amounts on part IV of form 8962? I'm claiming my daughter on my return but her mother had her on a marketplace plan in 2017.

Sorry I mean part II not III

VictoriaD75
Employee Tax Expert

How do I allocate policy amounts on part IV of form 8962? I'm claiming my daughter on my return but her mother had her on a marketplace plan in 2017.

If you have no allocations to report in Part IV, you must still complete the information from Form 1095-A to show the amount of Advance Payment of Premium Tax Credit. See the form in the link below.

 

Form 8962

 

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.

 

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
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kck1
Level 2

How do I allocate policy amounts on part IV of form 8962? I'm claiming my daughter on my return but her mother had her on a marketplace plan in 2017.

1095-A was issued to my mother, not to me.  If I claim zero allocation for me (my mom will claim 100% in her tax return), do I enter zero's for line 11 or the amount listed in 1095-A?

BillM223
Employee Tax Expert

How do I allocate policy amounts on part IV of form 8962? I'm claiming my daughter on my return but her mother had her on a marketplace plan in 2017.

"do I enter zero's for line 11 or the amount listed in 1095-A?"

 

Enter the amounts from the 1095-A.

 

If you and your mother have agreed that she will take 100% of the allocation, you still have to enter all the information in Parts I and II just as it is reported on the 1095-A (including for line 11). Your allocation information goes into Part IV.

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