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Level 2
January 26, 2020
Solved

HOW TO DO SHARED POLICY PERCENTAGES?

  • January 26, 2020
  • 5 replies
  • 26 views

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%?

 

 

 

 

Best answer by Critter

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%.

5 replies

January 26, 2020

is the child filing his/her own tax return? 

Level 2
January 26, 2020

Yes, they are filing their own tax return.

Critter
CritterAnswer
Level 15
January 26, 2020

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%.