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Deductions & credits
I feel there is flaw with this system. My situation is not working as it should. I qualify as 2% Shareholder due to my family relationship within our S-Corp even though I hold no official stock or ties to the ownership of the company. The company pays for the insurance along with all the other employees, so I am able to deduct the insurance. However, l the I do not receive nor have access to the business schedule K-1 and they will not allow it. I cannot get TurboTax to allow me the deduction any other way. There should be another way around this!
March 16, 2020
7:58 AM