The insurance expense was incurred by the self-employed business owners. We are an S Corporation. What do we have to do to get this information on Schedule 1 line 29.
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In TurboTax Home & Business, you enter your health insurance premiums you paid when you enter the K-1 you received from the S-Corp.
When entering your K-1, continue the TurboTax interview until you arrive at the page Other situations where you can check the box saying that you paid for health insurance (see attached screenshot). On the next page, you can enter the amount you paid and TurboTax will transfer it to line 29 of Schedule 1 of form 1040.
In TurboTax Home & Business, you enter your health insurance premiums you paid when you enter the K-1 you received from the S-Corp.
When entering your K-1, continue the TurboTax interview until you arrive at the page Other situations where you can check the box saying that you paid for health insurance (see attached screenshot). On the next page, you can enter the amount you paid and TurboTax will transfer it to line 29 of Schedule 1 of form 1040.
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