Regarding Market Based Health Insurance, as the parent, do i check the box that asks if I shared the plan with another taxpayer? My son was recommended not to by you.

My wife and I share the health plan with my son. Son files his own taxes and is not a dependent. TurboTax recommends he doesn't check the share box, but do my wife and I check the shared box? We live in Washington. If we do share, then I calculated our percentage is 80%, but what do we put in the three boxes that ask for the percentages?

192

Expert Alumni

Feb 3, 2024 2:30:05 PM

For the months that your son was on your policy, you can allocate the amounts in any way you both agree. This means you can allocate 100% to yourself, or you can split it anyway you choose. If you both agree, the allocation can be anywhere from 0% to 100%.

If you cannot agree, and Advance credit was received (column C on the 1095-A), then it is divided by the number of people on the insurance policy. For example, if the insurance policy covers 4 people, each person is allocated 25%.

See this TurboTax tips article for more information about Form 1095-A.

See also this IRS article for more information about the Premium Tax Credit.

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Regarding Market Based Health Insurance, as the parent, do i check the box that asks if I shared the plan with another taxpayer? My son was recommended not to by you.