ILLMAS Posted April 4, 2015 Report Share Posted April 4, 2015 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 Quote Link to comment Share on other sites More sharing options...
Jack from Ohio Posted April 4, 2015 Report Share Posted April 4, 2015 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. Quote Link to comment Share on other sites More sharing options...
jklcpa Posted April 4, 2015 Report Share Posted April 4, 2015 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. Quote Link to comment Share on other sites More sharing options...
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