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To enter your deduction for Self-Employed Health Insurance Premiums as an owner or 2% or more share holder, follow these instructions from the Turbo Tax article: Can I deduct health insurance premiums as an S corporation shareholder?:   Open or continue your return. Navigate to the K-1 section: TurboTax Online/Mobile: Either go to the K-1 screen under Wages & Income, or search for K-1. TurboTax Desktop: Search for K-1. If you used Search, click on “Jump to K-1”. Answer Yes to the question Did you receive any Schedules K-1 or Q? Select Start or Update next to S corporations (Form 1120S) and follow the prompts, filling out your information as you go. On the screen that says Check boxes that have an amount or are checked on the form, select Box 17 Info and any other boxes that contain info on your K-1. Select Continue. Continue to enter information from your K-1. On the Other Situations screen, select I personally paid health insurance and then select Continue. On the Self-Employed Health Insurance screen, fill in the W-2 box 5 amount and the amount of health insurance premiums you paid (this may be on your W-2 in box 14). If you purchased insurance through Healthcare.gov or your state marketplace, leave the second box blank. Select Continue. On the Long-Term Care Insurance screen, enter any long-term care premiums and select Continue. Select Yes or No to the question Does your K-1 have a code V in Box 17? If you selected Yes, follow the screens until you reach the S corporation K-1 Summary screen.

Schedule 1-A certainly says how to fill out each line.  It is very clear.  Both  Lines 36a and 36b say to enter the amount from line 35.   IRS Schedule 1-A https://www.irs.gov/pub/irs-pdf/f1040s1a.pdf

Thank you for the link but that is not much in the way of instructions or how the phaseout of 6% is calculated and applied. It certainly doesn’t say how to fill in lines 36a or 36b or what amount to use. Right?

Whoever said the government or IRS or taxes were fair?   Have you also noticed that the max for married is only $250,000 instead of 2x single $175,000?  That shows/proves  the phaseout reduction is double.   

Yes, I understand that is how they are calculating it. My question is, is it correct? A 6% phaseout on income over $150k taken literally is $300 if the AGI is $155k ($5000 x 6%).  No where in the instructions for schedule 1-A, Section V, in the 1040 instructions is the phaseout explained. And no where do they say and by the way, it’s really a 12% phaseout for married couples filing jointly. 

Thank you for your clear response. Just to confirm: If her annual expenses are:   $16k college tuition/room and board (all paid by scholarship)   $7500 other expenses (share of parents home, insurance, transportation etc)   If she pays $4k of the other expenses then she is considered to have paid more than half of her support for the year?

The “senior deduction” is added automatically by the software based on the date of birth and filing status you entered into MY INFO.  You do not need to take any extra steps to enter it. (And…the new senior deduction has nothing to do with whether you are getting Social Security)     2025 STANDARD DEDUCTION AMOUNTS SINGLE $15,750  (65 or older/legally blind + $2000) MARRIED FILING SEPARATELY $15,750  (65 or older/legally blind +1600) MARRIED FILING JOINTLY $31,500  (65 or older/legally blind + $1600) HEAD OF HOUSEHOLD $23,625 (65 or older/legally blind + $2000)     For 2025 through 2028 there is an extra  deduction amount of up to $6000 per individual 65 or older filing Single, MFJ, or HOH which is phased out for taxpayers with modified adjusted gross income over $75,000 for single filers and $150,000 for joint filers.   The $6,000 senior deduction will be calculated on 1040 Schedule 1-A page 2 Part V Enhanced Deduction for Seniors which goes to 1040 line 13b. It is separate and in addition to the Standard Deduction or your Itemized Deductions on 1040 line 12e.  Turbo Tax automatically includes it. IRS Schedule 1-A https://www.irs.gov/pub/irs-dft/f1040s1a--dft.pdf       And.....if you purchased a new car in 2025 and paid interest on a car loan go to Federal>Deductions and Credits >Cars and Other Things you own---and then car loan interest

Great, but will this be something that will be available within a few weeks or next year? Also, I was inputting my donations as I went along and had hundreds of entries as I donate a lot each year and now I don't know how to get my data entered all year long out of its deductible and have to dig back into the filing cabinet and pull out tons of paperwork and reenter each one again. Any help would be appreciated. 

The instructions on page 110 of the Form 1040 do not explain how the phaseout of 6% is applied. I appreciate you answering my questions but it truly seems unfair to to apply the 6% to the overage twice which results in a 12% reduction for the same $5000 overage. I did fill out Form 1-A and believe the IRS got it wrong as well. 😉

After you enter your W-2 you will come to a screen that says "Let's check for uncommon situations." On that screen, check the box for Overtime. TurboTax will then prompt you to enter the information needed to claim the deduction for overtime.