@JOHNNYCPA wrote: Mother recieved W2 where federal wages are shown in box 1 .  For her situation, I think her wage is taxable because she did not live with son.      The W-2 shows the income in Box 1.  You are right, it is taxable because she did not live with the son. Just enter the W-2.  Nothing else needs to be done. Or am I misunderstanding something?

They could be amended ... but if there is anything audit-able on the tax return, the client may want to leave it alone.  Maybe I'm wrong, but scenario seems like a time where the IRS is going to look closer at the tax return. What is SUPPOSED to happen is that the clients tell the Marketplace that the child will not be a dependent and then the Marketplace splits things up and sends separate 1095-As.  But the rarely happens, and I *THINK* the Marketplace may be behind that problem.

@taxedny wrote:  The 8962 doesn't allow me to enter more than one.   In most cases, you don't need to enter more than one. https://www.irs.gov/publications/p974#en_US_2021_publink100023503

The 1095-A shows Advance credit in column C but nothing in column B?  That is really bizarre. Did the person actually qualify for the credit, or was there some circumstance that he didn't really qualify (such as being eligible for affordable employer insurance, such as through a parent)? If they qualify, you'll need to look up the SLCSP at the Marketplace.  

@Just-Lisa-Now- wrote: He's not a student GI Bill paid for all his schooling,   Was the "schooling" in a prior year or in the current year?  Qualified educational expenses that were paid by the GI Bill should reduce the penalty.

I don't really know much about Coverdell accounts, but here are a few thoughts: Quite annoyingly, it seems like they don't need to report Basis and Earnings (see citation below). I have no idea why.  Hopefully your client knows their Basis.   Yes, I believe that only the earnings are taxable.  Why the program is doing that, I'm not sure.  Is this the child's return and the child is the recipient?  Have you tried temporarily saying that the child is a student (in case it is a glitch in the program and won't calculate things correctly unless it thinks the taxpayer is a student)? I wish I could help you further, but I've never dealt with a Coverdell before.   For 2023, instead of dividing the gross distribution between your earnings (box 2) and your basis (amount already taxed) (box 3), the payer or trustee may report the fair market value (account balance) of the Coverdell ESA as of December 31, 2023. This will be shown in the blank box below boxes 5 and 6. https://www.irs.gov/publications/p970#en_US_2023_publink1000178472    

Is this person a dependent? Do they have any income? If they are not a dependent and they received Advance credit (column C of the 1095-A), yes, they are required to file a tax return. If they are not a dependent and they did NOT receive Advance credit (column C of the 1095-A), no, they are not required to file a tax return.  If their income is below 100% of the Federal Poverty Level, they probably won't qualify for any credit even if they choose to file a tax return (but as with most tax law, there are exceptions).

Line 19 of Schedule E seems to have the best description. However, was there any personal use?  If so, I don't think 19 will treat it correctly and you might need to fiddle around with some manual calculations.

Line 29 is showing the repayment of the Advance credit? You have a number entered for the SLCSP, right? What software are you using?  ProSeries does it automatically, but maybe you need to indicate that the Marketplace approved Advance credit so they still qualify even when their income is below 100% of the Federal Poverty Level?

@MGC94 wrote: Taxpayer rented out with AIRBNB and made $8,439.50 She paid to rent it $13,300 Took a loss. How would I write that off the sch e?      Enter the income.  Enter the expenses paid. 

@Terry53029 wrote: Generally, you will file Schedule C for your short-term vacation rental if: The average guest rents the property for fewer than 7 days, OR. The average guest stay is fewer than 30 days AND you provide guests with “substantial services”   No, Schedule C is only if "services" are provided (such as maid service or meals).  The Short-Term aspect has nothing to do with putting it on Schedule C (other than that short-term is more likely to provides such "services").

Can you clarify the situation?  I don't quite understand the situation from the way you phrased things. How many 1095-As are there? How many people are "covered" in Part 2?  Does that include your client?  Does that include the dependent son?