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ivincent3
New Member

Why did my federal amount increase to $1,551?

need help calculating percentage of my shared policy
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1 Reply
SharonD007
Expert Alumni

Why did my federal amount increase to $1,551?

We can't tell you why your refund or balance due increased without reviewing your tax return.

 

I'm assuming that you received a 1095-A Form and need help with entering because you share the medical policy with someone else.  If that's what you need help with, follow the instructions below.

 

The percentages that you should enter for your premium, your SLCSP, and your advance payment should be an amount that you and the person you share it with agree on. It could be 50/50 or another amount. Make sure you are in agreement and that the percentages on both tax returns add up to 100% together.

 

Both you and the other person need to enter a copy of the Form 1095-A that you received on your tax returns. TurboTax will ask you questions about if the policy was shared with someone and how to allocate the costs and credit. 

 

  1. Login to TurboTax 
  2. Select Federal  and Deductions & Credits
  3. Scroll down to Medical and select Show More
  4. Select Start/Revisit next to Affordable Care Act (Form 1095-A)
  5. Answer yes, I received Form 1095-A
  6. Enter the information and select Continue
  7. Select I shared this policy with another taxpayer who’s not on my taxes and Continue
  8. On the next screen you will enter the SSN for the other person and the start and end months that you shared the policy with the other person
  9. You will also choose the percentages of the amounts you want to claim on your tax return.   Both percentages should add up to 100%
  10. TurboTax will calculate the information that should be on your return based on your answers.
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