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Business & farm
Original answer:
In the follow-up to entering your Schedule K-1 from the S corp, on the Other Situations page mark the box indicating I personally paid health insurance and/or long-term care insurance premiums for myself and my family and this S corporation paid me wages. Then enter the requested information on the next page. If the HSA contribution was made through your S corp and is shown with code W in box 12 of your W-2 from the S corp, the entry is handled by entering the code W amount on TurboTax's W-2 form. If the HSA contribution was made by you personally, enter it in the HSA section as a personal contribution.
Reply by MW:
Thank you but I mean on TurboTax Business. For >2% officers/shareholders, HSA and health insurance were put in box 14 of the W-2. It's my understanding that they are wages to be deducted on their own personal tax returns. Where can we put these items in TurboTax Business? Regular wages, fringe benefits, or?
In the follow-up to entering your Schedule K-1 from the S corp, on the Other Situations page mark the box indicating I personally paid health insurance and/or long-term care insurance premiums for myself and my family and this S corporation paid me wages. Then enter the requested information on the next page. If the HSA contribution was made through your S corp and is shown with code W in box 12 of your W-2 from the S corp, the entry is handled by entering the code W amount on TurboTax's W-2 form. If the HSA contribution was made by you personally, enter it in the HSA section as a personal contribution.
Reply by MW:
Thank you but I mean on TurboTax Business. For >2% officers/shareholders, HSA and health insurance were put in box 14 of the W-2. It's my understanding that they are wages to be deducted on their own personal tax returns. Where can we put these items in TurboTax Business? Regular wages, fringe benefits, or?
‎June 4, 2019
5:28 PM