dmertz
Level 15

Retirement tax questions

Health insurance premiums paid by the S corporation for > 2% owners must be included in boxes 1, 3 and 5 of that individual's W-2.

Except for elective deferrals to a SARSEP established before 1997, SEP-IRA contributions are employer contributions, not employee contributions, and appear nowhere on a W-2.  They are deductible on the S corporation's tax return.

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