1095/8962

Forum|Forum|6 years ago
April 30, 2020
4 replies
26 views

Iron Man----Just Lisa Now---and Itonewbie you are my hero's....does anyone have a suggestion on a situation where a non dependent over 26 is a covered individual on a parents 1095A ? When parents took out the plan they thought the adult would be a dependent but the adult ended up with an adjusted gross between 8-9 thousand and can't be a dependent. Market place said 1095A can't be changed but I am not sure how to report correctly? I am not much on words but hope this gives enough description.

ProSeries Professional

This topic has been closed for replies.

Best answer by Just-Lisa-Now-

You cant change whats happened...you can only move forward.

The IRS will be expecting the Form 8962 on any return that has a SSN shown on the 1095A.

You can allocate 100% to the parents and 0% to the adult child.

Just-Lisa-Now-

Intuit Community Champion

Youd report the 1095A on each return, the parents and the childs....then you can allocate however works out best....shared allocation is at the bottom of the 1095A.

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

T

TiredFarmerAuthor

Level 6

I guess I maybe overthinking but if non dependent really should not have qualified for marketplace insurance what is worst case scenario of this situation?

Just-Lisa-Now-

Answer

Intuit Community Champion

You cant change whats happened...you can only move forward.

The IRS will be expecting the Form 8962 on any return that has a SSN shown on the 1095A.

You can allocate 100% to the parents and 0% to the adult child.

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

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