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Dependent AGI on Form 8962


David

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TPs claim college age daughter every other year. They are claiming her in 2014.

The daughter is not included in the TPs healthcare coverage but is covered by the other parent's health coverage.

According to the instructions, the dependent's AGI is required to be included on Form 8962 even though the premiums reported on 1095A do not include her premiums.

Am I understanding this correctly, that the dependent's AGI has to be reported on the TP's 8962?

Thanks.

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If the dependent was required to file a tax return, then her AGI, and t/e interest, and nontaxable portion of any soc sec benefits all must be included in the household income.

If the dependent filed a return solely to receive a refund of taxes withheld or estimated taxes paid in but was not otherwise required to file, then her AGI is not included.

 

That's all found on pg 2 of the 8962 instructions under "Terms You May Need to Know" and then see the subsections for "Household Income" and "Modified AGI"

 

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  • 3 weeks later...

I realize that I'm 3 weeks late, but I have a slight clarification for when the dependent's MAGI needs to be added:

It's when the dependent's "taxable income" (Line 43 of the 1040) is more than $0.

 

There are other circumstances when a dependent is required to file a tax return (such as self employment), but they don't have any "taxable income".  In these cases, the dependent's MAGI is NOT added.  I don't think the instructions don't really say this, but the gobbledygook in the Tax Code does.

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I don't think the instructions don't really say this, but the gobbledygook in the Tax Code does.

I don't think you really meant the double negative?   

Alternatives:

The instructions don't really say this, but the gobbledygook in the Tax Code does.

I don't think the instructions really say this, but the gobbledygook in the Tax Code does.

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Yes, that's what I was assuming.  I just hate double negatives, because they can make it really confusing.  Thanks for taking my post as I intended it, I almost went back and deleted it because I did not want you to think I was criticising you, @TaxGuyBill.  We've all done similar changes that led to a bad sentence, now and then.  

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