I am a LLC partner. I received a k1 and in box 13 it shows that I was reimbursed for my medical premiums. Do I enter my premiums on schedule A first (we get standard deduction) and when asked on k1 if i paid for my medical premiums enter it there also? LLC did not reimburse me for dental or vision premiums. Thank you.
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Yes, go ahead and enter the premiums into schedule A and then enter the K1. Answer the questions there as well.
Do I put all my premiums on the schedule A including medical, dental, vision? When I go to the k1 do I enter all the premiums I paid when asked did I pay for premiums or just the dental and vision? I know to enter 13 m that includes my medical reimbursement only (I was reimbursed by the LLC). Confused. Thank you so much.
Enter all medical insurance paid for Schedule A. Enter only the portion that was reimbursed during the Schedule K-1 interview.
I spoke to turbo tax specialist and they said to put in the premiums I paid in the schedule A and then on the k1 side put under I paid my premiums all but what is in box 13 M. Which was my dental and vision that the LLC did not reimburse for. Does this sound correct?
Yes, if you were not reimbursed for the dental and vision, you wouldn't include those premiums during the Schedule K-1 interview.
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