FORM 1095-A FOR DEPENDENTS

[jelozua]

Hello fellow preparers,

A parent has his 24 year old child among the 1095-A covered individuals in his tax return. 

Do I have to enter the father's 1095-A information in the child's personal return?

Thank you in advance,

J.E.

[athaureaux6]

If the 24 year old is Not a dependent, (which I am assuming is not) :

1- check the recipient box for taxpayer or spouse , It really does not matter whichone is checked because that information is not trasmitted to the IRS. 

2- Go to the allocation of policy and allocate 100 % to the policy holder (parents), (you will see that the child return does not change the refund or the amount due)  or allocate any amount they both agree to. Usually, I put the 100 to the parents. 

Now, 

If the 24 year old is still dependent, (which I am assuming it is not) , the form goes in the parents' return. 

Thank you and have a great day. 

[TaxGuyBill]

Is the child a dependent?

Is there Advance credit (column C of the 1095-A)?

Are the child and parents agreeable to the best overall outcome?

Which tax return has the lower poverty percentage, the parents' return or the child's return?

[jelozua]

Thank you so much for that insight.

Now, if I add 100% of the policy to the parents, would there be any IRS issue by no including it at all in the son's return? Just wondering!