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Old 02-24-2017, 02:26 PM
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Join Date: Mar 2016
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1095-A Allocation Percentages

I am married, filing jointly. My 26 year old son is filing independently. We are all covered by medical insurance purchased through the Health Exchange. I received a 1095-A with all 3 of our names on it. My son did not receive one. All 3 columns in the 1095 (Monthly Premiums, Second Lowest Cost Silver Plan and Monthly Advance Payment of Tax Credit) have numbers in them. From what I have read, I am fairly sure that I can allocate the numbers in the 3 columns from 0-100% between my son and myself. I have to send him a copy of the 1095-A and my son and I have to agree on the allocation. So I can figure out the allocation that creates the best combined tax results for my son and I and we agree on it and I use that. This seems to be a very valuable tax loophole.
Here, finally, is my question. Do we have to use the same 3 allocation percentages for all three columns, per tax form? I know that my allocations and my sons should be reciprocals of each other, in other words if I use 40%/40%/40%, he has to use 60%/60%60%. I am pretty sure that the 3 percentages have to be the same. I just want to double check that they do have to be the same. If I could use 3 different numbers, such as 0%/0%/100% for me and 100%/100%0% for him, it could increase our combined tax savings by over $3,500.
What are your opinions. And PLEASE, do not just quote me sections of Forms 974 and 8962 and their instructions and examples given. I've read them a million times and they are just abominations.
So, to reiterate my one main question, do the 3 allocation percentages have to be the same, per form, as long as they add up to 100% on the 2 forms, or can they be different, but still adding up to 100$ per form.
Thanks for your time.

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