Premium tax credit

[RedRoss]

So I have Market place insurance for me and my son. I claimed him on my 2021 taxes.  If I still have the marketplace insurance for 2022 and my ex wife claims him for 2022   What do I do and what happens

[conniem123]

You will receive a Form 1095A from the Marketplace and the advance premium credit will still be reconciled on Form 8962 of your tax return since the policy is in your name, and you are the paying individual.

Hope this is helpful!

[Sandy_M65]

Hi RedRoss!
Sounds like you have a shared policy.  It is okay if your ex-wife claims your child and you carry the insurance.  Whoever claims your child will indicate that he had health insurance all year.  There is nothing further that needs to be done.

If your child is required to file a tax return, then the Form 1095-A will need to be allocated between the two of you.  You can read more about allocating a shared policy here.

If your son is not required to file, then you will report Form 1095-A on your return without allocation.

Hope this helps.

[RedRoss]

But the 1095a is in my name  but my ex wife will be claiming him for 2022 

[SuziM]

Thanks for your participation in our Ask the Expert event regarding "How does the Child Tax Credit and Dependent Care Credit impact this year's tax return for you?"! We’d love to get your input on the event and your TurboTax experience: Click here to leave a video testimonial.

[Sandy_M65]

@RedRoss 

The Form 1095-A is an informational form which provides information about your insurance policy, your premiums (the cost you pay for insurance), any advance payment of premium tax credit and the people in your household covered by the policy. 

The fact that your ex-wife will be claiming your child as a dependent does not affect anything unless you received advanced payments of the premium tax credit.  The form is reporting who in your tax family was covered by health insurance, and if you received any advance of the premium tax credit.

If your child is not required to file a tax return, then on the screen after entering the 1095-A, you will check the box indicating that the policy was shared by somebody that is not on your tax return.  It will then prompt you with further questions to determine how much of it is "allocated" to you (the parent).  This amount should be 100% if your child is not filing a tax return.

Please note the allocation is only important if you received the Advanced Premium Care Credit, (column C of the 1095-A).

Below are some links regarding the Premium Tax Credit that you may helpful:
The Premium Tax Credit - The Basics 

How to report the information from Form 1095-A 
What is Form 1095-A: Health Insurance Marketplace Statement 
Where to enter Form 1095-A