Editing this message:
Withdraw my question, as I got the form to update with needed information so there is no taxable effect to this item. Let me know if I'm wrong but I think it's figured out.
Original question:
I have an 1120S K-1 with item in Box 17 Code AD Medical Insurance Premium for > 2% shareholders $ figure. This information was not provided on the employee W-2 where wages were paid. Using Turbo Tax 2022, entered the Box 17 Code AD item and it says this item is not used in program calculations. Switched to FORMS and the form says "* Not provided for in program. Manually enter on appropriate tax form".
This Code AD Premium figure needs to be manually input on the forms. I believe it goes on Schedule 1, Line 8z Other Income. I cannot get Turbo Tax to input the Code AD amount of premium paid in the Schedule 1. Using override, I cannot get the line to allow me to input a description as well as calculate the figure into the form.
I successfully was able to enter the Schedule 1, Line 17, Self-Employed Health Insurance Deduction for the same amount using information from the TT help site. Without the income being considered on the Schedule 1 line 8z, Turbo Tax is refunding incorrectly as it is only taking into consideration the S-E Health Ins Deduction.
Can I get help in how to input the K-1 Box 17 Other Information Code AD as income to offset the Self-Employed Health Insurance Deduction?
