kees08
New Member

If I get my health insurance through a business different than the one listed on my K-1, do I selected that I have 'personally paid health insurance?'

I am not sure how to answer "I personally paid health insurance and/or long-term care insurance premiums for myself and my family." I get health insurance through a separate business, and I pay for part and that business pays for part.
MichaelDC
New Member

Get your taxes done using TurboTax

Are you a shareholder in that business also? Did you get a K-1 and W-2 from that business? If so, the following would apply.

If you own 2% or more of the S Corporation, and the S Corporation included health insurance premiums (or any reimbursement for health insurance premiums you paid) in Box 1 of your W-2, the self-employed health insurance premiums must be entered under each corresponding business, farm, partnership or S corporation K-1 topic to which the insurance payments apply. Do not enter an amount that exceeds the amount of premiums or reimbursement included in box 1 of your W-2. Any excess deductions can be entered under medical expenses in the deductions and credits section of TurboTax.

Do not include health insurance purchased through a Health Insurance Marketplace (also known as an exchange). These premiums are entered on Form 1095-A in the program.

If you own less than 2% of your S Corporation you are not entitled to claim a health insurance deduction or long-term care deduction for self-employment and should not enter an amount in this box.