Hello, this is the current tax situation:
My parents purchased insurance through Marketplace ACA, for the three of us (both parents, and I, the child) based on an initial household yearly income of $50,000. Note: I was added to the plan 2 months later because I needed to wait for my 19th birthday otherwise I had to go under medicaid we were told. However, my mother began working later and their combined yearly income rose to 80,000 but Marketplace/ACA was not notified of the increase in order to have their advanced tax credit adjusted. I had an yearly income of 6000 for the year, I'm an independent child filing separately.
Being that excessive tax credit was given by ACA based on the initial income of only 50K (instead of 80K), what would be the best SLCSP percentage allocation strategy among the 3 of us in order to keep the tax credit already given and not have to repay any of the advanced credit given? For example, is it better for me to claim a higher percentage (e.g. 90% and they claim 5% each), or should it be vice versa (they claim a higher percentage and I claim a lower one)?
