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New Member

S-corp self employed health insurance deduction

I am an s-corp and eligible to deduct medical premiums on line 29 since I can't deduct it from the business side.  However I can't find where to input this information?
1 Best answer

Accepted Solutions
ChelsiE2
New Member

S-corp self employed health insurance deduction

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 (see 1st attachment below for reference
  9. Check the box next to, "I personally paid health insurance...."
  10. Click Continue until you get to the Self Employed Health Insurance screen (see 2nd attachment for reference).  Here you can enter the amounts you paid.

View solution in original post

38 Replies
ChelsiE2
New Member

S-corp self employed health insurance deduction

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 (see 1st attachment below for reference
  9. Check the box next to, "I personally paid health insurance...."
  10. Click Continue until you get to the Self Employed Health Insurance screen (see 2nd attachment for reference).  Here you can enter the amounts you paid.

View solution in original post

kathyvertullo
New Member

S-corp self employed health insurance deduction

good answer, it works even though the question asks if you "personally" paid the premiums... as long as the S corp paid and included it in your wages in box 1 of your w-2 and you own more than 2% you add it here.
rwfossum
New Member

S-corp self employed health insurance deduction

The problem I've encountered is that the amount of insurance paid shows up in my personal "medical deductions" section; it should show up on 1040 line 29. The insurance amount is included in my w-2 gross wages (with box 14 checked and the insurance amount is in box 14) but is not included in W-2 lines 3 (social security wages) or box 5 (medicare wages), which is correct for an S-corp.
robyn-campbell
New Member

S-corp self employed health insurance deduction

What if I do not receive a k-1 because this is a fringe benefit?  the s-corp 2% medical premium still shows up in box 1 of my w-2.
ChelsiE2
New Member

S-corp self employed health insurance deduction

@robyn.campbell If you are a shareholder in an S-Corporation you should receive a Schedule K-1.  If you have not received a Schedule K-1 you should contact the managing shareholder.  You should not file your tax return until you receive this Schedule K-1.
steveandmad
New Member

S-corp self employed health insurance deduction

After spending 2 hours trying to figure out where to enter my 2% owner in S Corp health insurance premium deduction, we found this answer and it worked perfectly. Thank you.
kmkulasza
New Member

S-corp self employed health insurance deduction

I did this and it still does not show up on line 29.
pshaskins
New Member

S-corp self employed health insurance deduction

Following these instructions results in the amount going to Schedule A, line 1, not line 29.
pshaskins
New Member

S-corp self employed health insurance deduction

Did the rules change this year?
slhayes61
New Member

S-corp self employed health insurance deduction

These instructions did not work until I also entered W-2 Medicare Wages (Box 5) in the Self-Employed Health Insurance Deduction Worksheet.
skowronek
Level 2

S-corp self employed health insurance deduction

Was anyone able to figure out how to enter the premiums paid by S-corp and have it show up on line 29 of 1040 where it should appear rather than on Schedule A?
dmertz
Level 15

S-corp self employed health insurance deduction

[This suggestion is incorrect.  The box 5 amount must be entered.]
In the follow-up to indicating that you personally paid for the health insurance, when TurboTax asks for the box 5 amount from the W-2, enter the box 1 amount instead.
skowronek
Level 2

S-corp self employed health insurance deduction

Thank you @dmertz!! I was pulling my hair out what I was missing.
TaxGuyBill
Level 9

S-corp self employed health insurance deduction

@dmertz   You need to enter box 5, not the amount from box 1.  You need to have 'other' wages on the W-2 (which will show up in box 5) besides the health insurance wages (which only show up in box 1).
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