What happens if your parents and you don't match on the allocation of shared policy percentage for 1095-a and 8962 form?
If my parents put a percentage under 100% and I put 0% for all three percentages of the shared policy. What will happen? It doesn't equal 100% which it said it should.
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1 Replies
JotikaT2
Employee Tax Expert
Apr 5, 2020 6:37:41 PM
It depends.
Most likely, the IRS may ask you or your parents for more information to ensure the Premium Tax Credit is calculated correctly.
See the following link for more information should you receive a notice from the IRS.