The reason there is no information on what to do for Health Insurance reported on a K-1 for a more than 2% shareholder of an S-Corp is because they can't be reported on Form K-1 and deducted by the shareholder. The premium payments must be reported as wages subject to income tax on the shareholder's W-2. They are also reported in Box 14 as other information.
Shareholder premiums cannot be reported on Schedule K-1 and deducted. Shareholder premiums cannot be reported on Form 1099-MISC and deducted. Shareholder premiums cannot be unreported and deducted.
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