Form 8962/1095-a

[scgfs]

Here is the scenario with a client:

4 taxpayers. Father, mother  and two sons filing each return. Mother has all 3 plus another child that the father claims. I need to fill out a shared form. Each should be 25% or can i allocate 50/50 to Mom and dad and nothing to the kids?

Software will only one person to share responsibility on 1095-A part 4, BUT 8962 has room to add multiple taxpayers. If you try to add all of them to 8962 you get an error.

Can anyone who uses proseries help me, its Urgent and they are VIP clients.

I will even pay for the help.

Stephen Gilbert, EA

[Just-Lisa-Now-]

the 1095A you input the % allocation youre taking on that particular return, not the other returns. You can allocate the % any way you'd like.

So on moms return, if shes taking 25%, you'd put her SSN and the 25% at the bottom of the 1095A on her return.  Same for everyone else, enter the 1095A and put their SSN/% at the bottom on their returns.

[TaxGuyBill]

Was Advance Credit paid (column C of the 1095-A)?

Are parents filing as MFS?  That disqualifies the credit.  Or are they divorced?  Something else?

Are either kid ELIGIBLE to be claimed as a dependent?

They are ALL covered on the 1095-A, right?

[TaxGuyBill]

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@Just-Lisa-Now- wrote:

So on moms return, if shes taking 25%, you'd put her SSN and the 25% at the bottom of the 1095A on her return.  Same for everyone else, enter the 1095A and put their SSN/% at the bottom on their returns.

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No, you put the SSN of one of the other people for the shared policy.  It doesn't matter which, but for the the kids and spouse, I would enter the first/primary person on the 1095-A).

[Just-Lisa-Now-]

Ive always just put the SSN of the person listed first on each tax return and the % reported on that tax return.

[TaxGuyBill]

You are correct with entering the percentage to be on that tax return, but you are supposed to enter the SSN of the other person (or in the case of more than one person, any of the other people).

[Just-Lisa-Now-]

Thats what I thought first too, but I always got an error when I input an SSN for someone other than the taxpayer, using the TP SSN the error went away so I figured that what it wanted.

I guess as long as the % was right, it doesnt really matter.