Is it acceptable to make my non dep 22yo with a substantially lower income 100% responsible for the shared marketplace policy that he is listed on with my husband and I?

[MinhT · Accepted solution]

Yes, it is acceptable to allocate 100% of the policy to your lower income dependent. In fact, this is the most tax efficient allocation if you all agree.

[jncbear99]

I was just concerned as it makes a significant difference in tax responsibility for both of us to our advantage of course.  Do you know if this flags for review since I was the one who applied, not my son.  Is this just something that is available due to loose wording in the tax law?

[MinhT]

The tax law allows to allocate whatever percentages you agree upon to each taxpayer when you share a Marketplace policy. Allocating the policy to the lowest earner will give you the highest premium tax credit.