What happens if your parents and you don't match on the allocation of shared policy percentage for 1095-a and 8962 form?

Navistrad · ‎April 5, 2020

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.

JotikaT2 · ‎April 5, 2020

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.

How to generate Form 8962 to submit to the IRS as requested

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What happens if your parents and you don't match on the allocation of shared policy percentage for 1095-a and 8962 form?