PatriciaV
Expert Alumni

Deductions & credits

Since you are using TurboTax for Desktop, you can track the flow of this entry from the K-1 to your 1040.

 

  1. Open your return and click on the Forms icon in the TurboTax header.
  2. Scroll down the forms list on the left column and find "K-1 SCorp" for the K-1 you entered.
  3. Click on the form to open it in the large window. Verify your entries match the original K-1.
  4. Also open "K1S Addl Info 1" and Form 7206 under the K-1.
  5. Switch to the K1S Addl Info 1 form and scroll to the bottom.
  6. Both Line 1 (premiums) and Line 2 (W-2 wages) should have entries.
  7. Switch to Form 7206 and scroll to the bottom.
  8. Line 14 shows your SE Health insurance deduction. Note that Line 14 flows to Schedule 1 Line 17 and not to Schedule A (Itemized Deductions). You can open Schedule 1 to confirm.

 

If the SE Health insurance deduction isn't being carried over the Schedule 1, you may need to review your entries for the K-1 again.

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