SOS - PTC question

[ILLMAS]

TP included his son in their policy, TP received PTC, son is not a dependent of the parents, here is my question, do I need to request a copy of the son tax return to reconcile the PTC credit?  I am afraid the TP might forgotten that the son had income and was not disclosed when they applied for ACA.

 

MAS

[Jack from Ohio]

TP included his son in their policy, TP received PTC, son is not a dependent of the parents, here is my question, do I need to request a copy of the son tax return to reconcile the PTC credit?  I am afraid the TP might forgotten that the son had income and was not disclosed when they applied for ACA.

 

MAS

No.  Household income includes Filer, spouse (if applicable) and DEPENDENT's income if the dependent has a requirement to file.

 

I your case, the son answers that he has been covered, but the parents do not consider his income as part of household income.

[jklcpa]

TP included his son in their policy, TP received PTC, son is not a dependent of the parents, here is my question, do I need to request a copy of the son tax return to reconcile the PTC credit?  I am afraid the TP might forgotten that the son had income and was not disclosed when they applied for ACA.

 

MAS

 

 

You will have to reconcile the APTC they received and work through the Shared Policy Allocation worksheets. See the form 8962 instructions that start on pg 7.