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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.

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?
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MonikaK1
Expert Alumni

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.

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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