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Deductions & credits
Thanks for your suggestion: I did not find the line numbers you discussed on the step-by-step data entry screens, so I suspect you would have me go directly to the K-1 forms and enter/override the data in those lines.
I am considering an alternate approach: On 1040 screens where the LLC's K-1 information is entered, after I check the box for "required to pay expenses ..." I could enter all of the health insurance costs and all of the LLC's expenses I pay directly. This leaves only a couple of expenses remaining on the LLC's 1065.
By entering all expenses directly into the personal 1040, K-1 input sections, TT appropriately limits the Health Insurance deduction based upon profits from the 1065 K-1s.
It appears the tax implications are virtually identical with the two approaches.
What would you suggest: 1) all expenses, including healthcare, entered on the LLC's 1065 per your guidance; 2) all expenses, including healthcare, included on the 1040, K-1, expense and healthcare data entry sections?