How do I figure out the Premium Percentage,SLCSP Percentage and Advanced Payment of PTC Percentage if I share health insurance marketplace with my parents?

[DawnC]

Yes, as long as the totals add up to 100%, you can allocate the premiums and SLCSP percentage however is best for you and your dad.   And yes, anyone who receives a 1095-A has to enter it on their tax return unless they are a dependent.    You don't need to add any names already included on your tax return.  You will need to add the name of the person who you are sharing the policy with (Dad) - in that case, you will need to enter the 1095-A recipient information (your dad) in the shared policy follow-up questions.   

I'm on my parents' 1095-A, how do I handle this?    @mukesh21 

[mukesh21]

Hi @DawnC ,

Thank you for the answer. But the thing is I was dependent until November last year because until November I was studying and then I had an offer with the company. I had to remove myself from the marketplace plan from November . And so, I am not claimed as dependent in my parents taxes. I have not received a separate 1095A. Recipient is my dad and I am in Covered Individuals.  Should I still set 100% (in SLCSP questions) in my taxes?

[JamesG1]

Yes, as long as the totals add up to 100%, you can allocate the premiums and SLCSP percentage however is best for you and your dad.

The IRS requires that your percentages are agreed upon by all and that the percentages add up to 100%.

• Your Premium Percentage
• Your SLCSP Percentage, and
• Your Advanced Payment of PTC Percentage.

Taxpayer 1's tax return should reference taxpayer 2.  Taxpayer 2's tax return should reference taxpayer 1.

You may also review your scenario in this TurboTax Help.

@mukesh21 

[mukesh21]

@JamesG1 Thank you for the answer. Also I wanted to know, dependents need to add 1095A in their own return even though they are in "Covered Individuals" and dad is in "Recipient" ?  If not we can select No option (in dependent's return) where it says "Do you need to report your health insurance premium?" Just curious to know.

[TeresaM]

If you file a federal tax return and your social security number is associated with a Marketplace health insurance policy, then the IRS will want to see a Form 1095-A and Form 8962 in your return. If your father claims you as a dependent or not, you will need to enter the information either way. 

 

[mukesh21]

@TeresaM Thank you for the answer but the post (https://ttlc.intuit.com/turbotax-support/en-us/help-article/taxation/parents-1095-form-return/L2phDG...) says you do not need to add 1095A in dependents return if parents are claiming you as a dependent. Which one should we consider? Should we add or not? I am so confused now.

[TeresaM]

It is simpler not to include Form 1095-A and 8962 in the return, and indeed all of the calculations for the credit will take place on your father's return. That is the one the IRS needs. 

However, I am finding that recently if the social security number is associated with a Marketplace account, the IRS is at least some of the time rejecting e-file with an error message for 8962.  

Perhaps it would be best to try to file the return without the health forms and see if the IRS will accept it. They do not need the information on your return. However, if they reject the return with the error message for 8962, you can enter the form and use the allotment discussed above with your part at zero percent.