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We have problem i filed taxes and claimed PTC on 8962,'my…

HI we have problem...

HI we have problem i filed taxes and claimed PTC on 8962,'my son and my daughter are in on 1095-A form as covered individuals .On form 8962 my taxpriperer didnot check the box that i share policy with my kids now my son already filed taxes and didnot file a 8962 ,irs send a letter LTR12c and he has to send them form 8962 how he should file the form 8962 when i already got 100%PTC back

Accountant's Assistant: The Accountant will know how to help. Is there anything else important you think the Accountant should know?

Yes my daughter should file her taxes and i dont know how

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Answered in 42 minutes by:
3/25/2018
emc011075
emc011075, Tax adviser
Category: Tax
Satisfied Customers: 3,864
Experience: IRS licensed Enrolled Agent and tax instructor
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Hi. My name is ***** ***** I will be happy to help you.

It is actually quite common problem. If you already filed your own return and you do not want to amend it, give copy of your 1095A to your son and your daughter and have them file 8962 by allocating the entire credit to your. The allocation is done in part IV on the second page. Just tell them to allocate 100% to you.

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Customer reply replied 3 months ago
But do you think will i have a problem ,on my 8962 my taxpreperer didnot mark that i share allocation policy amounts with another paxpayer,and alsow my daughter s income below poverty limit will she soffer because of it

The IRS may send you 8962 just to confirm but as long the children allocate the entire credit to you, you will not have to amend or otherwise change your tax return. You just complete second page just like your children. You daughter will still have to file her own return, even if she is not required because of low income. But otherwise the form 8962 will not affect her return.

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Customer reply replied 3 months ago
to allocate 100% to should my son put my ssn on column (b)part30 where it says ssn of other taxpayer and 100%on buttom columns where it says premium percentage ,slcsp persentage ,advence payment of the ptc percentage i am confused sorry and THANK YOU

On line 30 - 32 he will list you, himself and his sister and allocate 100% of police to you and 0% to himself and his sister. Your daughter should do the same.

emc011075
emc011075, Tax adviser
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Satisfied Customers: 3,864
Experience: IRS licensed Enrolled Agent and tax instructor
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