turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Event: Ask the Experts about your refund > RSVP NOW!
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

Tax Year Prior to 2020: S corp health insurance

I am a single owner of S corporation. My s corp have paid out health insurance premium throughout the year. while I am doing s corp business tax return, I found out that health insurance premium paid by s corp grosses up owners compensation. and I learned that I can deduct that amount on my personal return on 1040.

but my w2( I received 2019 w2 form and I am using payroll service) doesn't reflect that.

 

is it going to cause a problem when I do my personal tax? 

 

thank you in advance

Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Reply
WKins2
Expert Alumni

Tax Year Prior to 2020: S corp health insurance

Yes it is. In order to claim the insurance on your personal return, the premiums need to be reported on your W-2. You can contact your payroll service company and ask them to create a W-2C (a corrected W-2) and report the insurance premiums on the W-2, that way you can claim the premiums on your return. 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies