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Business & farm
I am having the exact same problem and can't seem to get an answer. My parents own the company I work for and I am considered a "relative of a shareholder." As such my health care premiums are listed on my W-2 but I should have an option to designate that the amount be subtracted from my W-2 under IRS Sec 318(a)(1) family attribution rules. Right now the software just keeps asking my for a K-1 which does NOT apply to my situation. And I am NOT self-employed - I am an employee of the company. This is not an uncommon thing to occur with children working in family businesses so I would love to just understand if TurboTax can handle it with the personal software program. Anyone have that answer?
‎July 19, 2021
8:36 AM