Thank you. I have already prepared my S-Corp return 1120 using TurboTax Business.
My explanation may have not been clear, I receive a W-2 and the S-Corp has a net profit. Regardless of what I do or don't do with Schedule C, the below "Learn More" link very clearly says that K-1 income qualifies as self-employment. I've added the blue bold.
The problem remains the same: the 1095-A entries are not recognizing the self employment income from the K-1 eventhough I was asked and linked it to the correct income from the list options provided.
Can I deduct my premiums if I’m self-employed and bought health insurance through the Marketplace?
If you reported self-employment income on any of the schedules listed below and you used that income to buy health insurance through Healthcare.gov or your state Marketplace, you can deduct your premiums on your taxes. However, you need to tie that income to your 1095-A so we can properly calculate the deduction amount.
- Schedule C – Self-employed business income
- Schedule F – Farm income
- Schedule K-1 partnership – This only counts if you earned self-employment income from that partnership, which means you would have an entry on Line 14 of your K-1 from that partnership.
- Schedule K-1 S corporation – This only counts if you have a W-2 from that S corporation and are an owner with more than 2% interest in the S corporation.
