How do you enter the the self-employed health insu...
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New Member

How do you enter the the self-employed health insurance deduction for 2% + S-corp shareholders in TurboTax?

 
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Expert Alumni

How do you enter the the self-employed health insurance deduction for 2% + S-corp shareholders in TurboTax?

Please see this answer from ChelsiE2:

 

To enter Health Insurance Premiums you paid as a Self Employed S-Corporation Member:

  1. Sign into your TurboTax Account
  2. Click Continue if prompted to do so
  3. Click Search in the upper right hand corner of your screen
  4. Type "K-1"
  5. Click Jump to K-1
  6. Click through until you have the option to Update or Add your K-1
  7. If you've already entered your K-1, click Edit, if you haven't then click Add
  8. Enter all the applicable information or click through until you come to the Other Situations screen 
  9. Check the box next to, "I personally paid health insurance...."
  10. Click Continue until you get to the Self Employed Health Insurance screen 
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New Member

How do you enter the the self-employed health insurance deduction for 2% + S-corp shareholders in TurboTax?

I do not have TurboTax Business Online.  I have CD download.  This does not work on download version.  I have opened the form and there is no box to check for I have paid self employed insurance.  Still need help figuring this out on downloaded version 

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Level 6

How do you enter the the self-employed health insurance deduction for 2% + S-corp shareholders in TurboTax?

You need a W-2 to take the Self-Employed Health Insurance deduction.   If you don't have a W-2, the deduction is taken as an itemized deduction on Schedule A.  

 

You may be able to deduct the amount you paid for medical and dental insurance and qualified long-term care insurance for yourself, your spouse, and your dependents.   One of the following statements must be true.

  • You were self-employed and had a net profit for the year reported on Schedule C (Form 1040 or 1040-SR) or Schedule F (Form 1040 or 1040-SR).
  • You were a partner with net earnings from self-employment for the year reported on Schedule K-1 (Form 1065), box 14, code A.
  • You used one of the optional methods to figure your net earnings from self-employment on Schedule SE.
  • You received wages in 2019 from an S corporation in which you were a more-than-2% shareholder. Health insurance premiums paid or reimbursed by the S corporation are shown as wages on Form W-2.

Where do I enter my health insurance premiums in TurboTax Home & Business if I'm self-employed?

 

 

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