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Marketplace healthcare Premium Tax Credit allocation when tied to self employed income

My husband and I are self employed and have Marketplace insurance; the premiums are linked to our Schedule C business. We cover our adult daughter on our policy; she files her own tax return. This year she was asked by TurboTax about a1095-A PTC % allotment. She located and input the necessary information from our 1095-A to claim 33% of the PTC.  After going through her online return with her, I was convinced she had stumbled upon a credit the IRS and TurboTax says is rightfully hers to claim (proud of her for finding it but kind of also wanted to ask her to reimburse us for her health insurance coverage).  I decided to amend our already filed return and reduce our PTC to 67%. Each time I attempt to allocate 33% to our daughter's social security #, TurboTax says it does not support allocation of the 1095-A PTC when it is tied to self employed income . Why is this and is there a way to get around it? I'm ready to just ignore the final review, which shows I have 6 errors related to the the PTC allocation, print the amended return, pay the additional tax and be done with it.  If anyone has advice/suggestions on this topic, it would be welcomed.

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2 Replies
Tulcie
New Member

Marketplace healthcare Premium Tax Credit allocation when tied to self employed income

We are having the EXACT same issue! We have fooled around with numbers for days trying to find something to let us e-file. It does not matter how we change the percentage numbers, it won't accept any of them and gives us 6 error to fix. We are thinking of just printing and mailing but then why did we pay for the service? And we have already paid extra for state e-filing.

BASIC FACTS:

Hubby is retired and claims pension income.

I have a small business with income on a Schedule C.

Daughter is 22 and still on our market place plan but is not claimed as a dependent on our return. 

We have filled out the shared allocation correctly, and (gasp!) incorrectly, just to see how to get it to go thru. Nothing we do changes the outcome: 6 errors and we can't e-file. What we owe only changes by a dollar or two no matter what, so we are not concerned about that.  So disgusted at this point!

After 20 tries to e-file and 6 errors we have no idea what to do.

Marketplace healthcare Premium Tax Credit allocation when tied to self employed income

I am having this exact issue. I’m printing to file by mail so that my return isn’t late. Even reading that form itself, it’s asks what income you’re deducting it from. That part is correct on my form. Yet TT error says that it can’t be done. I can’t find anything online that suggests that you can’t deduct Marketplace premiums for adult children who are not on your return. 

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