Get your taxes done using TurboTax

You don't specify if you have a K-1 schedule from a partnership or S corporation, I will assume it is from an S corporation since you are having trouble with the entry, if not respond and we can tell you what to do if you are dealing with a partnership K-1 schedule.

To be able to take a self-employed health insurance deduction, you would have to be a more than 2% owner in the S corporation to begin with. The S corporation would have to report the health insurance premiums on your W-2 form in box 1 as wage income. The company would then deduct the wages reported to you as payroll expense. You would then pick up the income on your W-2 form and then deduct the self-employed health insurance to the extent allowed on your personal tax return. So, the insurance would be deducted on the company return, thus reducing your share of company income, then added and subtracted on your personal tax return.

When you enter your S corporation schedule K-1 in TurboTax, you will see an option to indicate that you paid for health insurance and that the company paid you wages:

On the next screen you will enter the amount of the health insurance that you paid:

If you have insurance through the government health care exchange, you should not enter it in this section, rather you will see an option when you enter your Form 1095-A to link the health insurance entered there to your S corporation income entered from the schedule K-1.

[Edited 4/5/24 at 12:31 PM PST] @MAC18