Can my son an out of state undergraduate student claim mandated health insurance bought through an insurance company (not student health fees) ?

[hayterchristine]

The cost of the insurance was $1667. His income is $3934

[Bsch4477]

Yes, if the policy provides minimum essential coverage.  His insurance agent should be able to tell him that. 

[hayterchristine]

What specific heading or line item on turbotax would this be entered in?

[Bsch4477]

Is he filing his own return or are you filing with him as a dependent?

[hayterchristine]

We claimed him as a dependent. However, he has income that we are trying to get his tax refund back from on his own filing single return.

[Bsch4477]

On your return say he was insured for the whole year if that is the case.  He does the same on his return.

[hayterchristine]

We did  that on ours. On his it just jumps to him being covered because he is our dependent. However, we are not finding anywhere to put down the health insurance  premium of $1667 on his return. Technically , he was double covered by insurance because his college would not accept our health insurance from a different state

[Bsch4477]

He doesn’t report his health premium on his return.  He doesn’t have to prove on his return that he is covered and he has no deduction for the premium. Since he is your dependent you could deduct the premium as a medical expense if you itemize subject to the 7.5% AGI floor.

[hayterchristine]

OK. Making sense for this year! Now going forward if we dont claim him as a dependent , would he have the same 7.5% AGI for medical expenses?

[Bsch4477]

Next year the limitation is 10% of AGI. And of course he would have to itemize which is unlikely since his standard deduction would probably be higher than his itemized deductions.

[hayterchristine]

Why would my other son have to pay taxes if his deductions are 12,120 and his taxable income is 12067(misc1099-$1696 part here)?

[Bsch4477]

You should really start a new thread since this is a new topic but if he has income on a 1099-misc in box 7 he is paying self employment tax.