HOW TO DO SHARED POLICY PERCENTAGES?

[93nighthawk]

Could someone please clarify if this would be correct?  Below is an example about what I am talking about.

ie:  Parent Form

Child's Form:

Does each box from the Parent/Child need to equal 100%?  Or do certain boxes on both returns need to be 100%?

[Anonymous]

is the child filing his/her own tax return? 

[93nighthawk]

Yes, they are filing their own tax return.

[Critter · Accepted solution]

For each category the total % between the 2 returns must be 100% ... your screenshot shows a correct combination. Play with the combinations on both returns to see what gets the best results for everyone combined.  It is possible for one return to take 100% and the other 0%.

[93nighthawk]

So for example could you do this:

Mine:  80   80   70

Child: 20  20  30

Would this be acceptable?

[ColeenD3 · Accepted solution]

Yes. It is up to you how you want to prorate, as long as each adds up to 100%.