If you are a more than 2% owner of a subchapter S corporation, then please do the following:
This amount is entered on the K-1. Return to this K-1 and follow these steps to enter the health insurance premiums:
- Click on the Federal Taxes tab or Personal (for Home & Business version)
- Click on Wages and Income or Personal Income
- Scroll down to Business Investments and Estate/Trust Income
- Schedules K-1 Click Update
- Schedules K-1 or Q screen, Do you want to Review - click Yes
- Tell Us About Your Schedules K-1 screen, click Update by 1065 or 1120S Form
- Click Edit by your K-1
- Click through the screens until you see the "Other Situations" screen
- Check the box for "I personally paid health insurance..." - Continue
- Enter the amounts requested for this K-1
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