Net premium tax credit

[Norman58]

Please help! Last year I filed MFJ with 2 dependents. We thought that we had taken our adult son off the health care plan in 2022 as he obtained full time employment and his own health insurance. For 2023 health marketplace, we thought we signed up for MFJ with 1 dependent. In mid March 2023, we decided to take our younger son off the health insurance because he had college student insurance. When we went to change that in March, we realized somehow our older son was mistakenly still on our plan from 2022.  For tax return purposes in TurboTax, I have included my younger son's AGI for the premium tax credit calculation. In TurboTax, I put the allocation % for Jan- March for premium allocation as 50% , SLCSP % as 50% and advanced premium tax credit as 50%. Is this the correct way to fix my mistake. I do not want to include my older son in the allocation as he is filing separately and is not being claimed as a dependent on our MFJ tax return.

[RobertB4444]

The allocation for your older son is 25%.  So it should be 75% of the January thru March amount on your return.  Then he'll put 25% of the January thru March amount on his return and he will handle any taxes due for that portion.

@Norman58 

[Norman58]

Thanks so much for your help!