My partnership K-1 Section 199A, Box 20, Code Z lists
Ordinary Income YYYY
Self-employment earnings
Health insurance payments XXXX
W-2 wages WWWW
I have previously input the "Health insurance payments XXXX" under section 13 M.
Turbo tax then asks for "More Information on Your 199a"
There is a spot for Ordinary Income YYYY
There is a spot for W-2 wages WWWW
My understanding is that since the health insurance is 100% paid at the entity level, it needs to be recorded as a deduction. Do I put this under other deductions (looking at the actual tax forms the Health insurance payments XXXX does not appear anywhere)?
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You entered your health insurance payments correctly when you entered the information for Box 13 code M. For the Section 199A (Qualified Business Income) calculations, health insurance payments are appropriately considered within the Ordinary Income amount. You should enter the Ordinary Income YYYY and W-2 Wages WWWW in this section and continue entering and reviewing your return.
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