You'll need to sign in or create an account to connect with an expert.
Yes, it is acceptable to allocate 100% of the policy to your lower income dependent. In fact, this is the most tax efficient allocation if you all agree.
Yes, it is acceptable to allocate 100% of the policy to your lower income dependent. In fact, this is the most tax efficient allocation if you all agree.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
mahoneyseven
Level 1
kmm24
Level 1
pschwebel
Level 2
pschwebel
Level 2
nn599
Returning Member
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.