Help w/ form 8962.

[jetster23]

My ACA healthcare policy was shared w/ my daughter.  She is not a dependent on my tax return.  I need help determining the correct percentages to input for (1) Premium, (2) SLCSP, and (3) Advanced Payment of PTC Percentages.  Note: There were three of us on the policy for the entire year (Myself, my wife, and my daughter (the non-dependent).  

Please see ATTACHMENT.

[TaxGuyBill · Accepted solution]

If you and your daughter agree on a percentage, you can allocate the percentage any way you want, as long as they total 100% and all three are the same.

If you can not agree, then you would claim 67% and your daughter would claim 33%.

Be sure to enter the full amount of the 1095-A in TurboTax, then on the screen immediately after that you indicate it was shared with somebody not on your tax return.  BOTH you and your daughter need to do that.

It is usually best to allocate 100% to one person.  Does your daughter have at least $11,770 of income?  If so, the overall best result will likely be if she claims 100% and you claim 0% (but it depends on who has the lower poverty percentage, so try it both ways).