TurboTax software (as I go through it) says "A Partnership can deduct the cost of medical insurance premiums paid for a partner as a guaranteed payment. The Partner will report their guaranteed payments as income. The schedule K-1 they'll receive from the partnership will sepeately state the amount of medical insurance premiums paid, so that partner can deduct the medical insurance on their personal return."
So based on this, do I pull that amount out as a business expense, note that amount as guaranteed payment, and then also deduct on my personal return as well. or is it (Since we have no employees), we account for it as Guaranteed payment (and not a general expense), and then account for that expense on the personal 1040.
