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See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. Lacerte | ProConnect | ProSeries
See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. Lacerte | ProConnect | ProSeries
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- Shared Allocation form 8962
Shared Allocation form 8962
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DeeGraham
Level 1
02-15-2022
03:41 PM
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Hi, I am currently filling out form 8962 for 2021 tax return. On the 1095-A form the policy recipient is the mother and she has her two children covered in the policy. The mother will not be claiming the two children as dependents. The daughter is currently filing her 2021 tax return and is confused on what she should put as the percentage for the enrollment premium, SLCSP, and the APTC. What percentage would be better for both the mother and her two children. The APTC was received.
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1 Comment 1
taxshack
Level 5
03-01-2022
07:04 PM
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The instructions for Form 8962 have a lot of good information. But they can choose to allocate it between them or she can choose to allocate all of it to her, but you have to fill out the allocation portion. I definitely recommend reading through those instructions. https://www.irs.gov/pub/irs-pdf/i8962.pdf
Preparing taxes is not my life, but my life is amazing because I prepare taxes.
