Wages for 2% Shareholder paid by S-Corp are deductible as self paid health insurance but are included as wages. This amount is listed in box 14 of our W-2, but there is no option for this choice in the drop down menu. I have it under "other" but then the deduction is not taken.
You'll need to sign in or create an account to connect with an expert.
When entering your K-1, check the box about health insurance and answer all of the followup questions. If you qualify, that is how you receive the Self Employed Health Insurance deduction. Box 14 of your W-2 is just informational.
When entering your K-1, check the box about health insurance and answer all of the followup questions. If you qualify, that is how you receive the Self Employed Health Insurance deduction. Box 14 of your W-2 is just informational.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
JMillBrand13
New Member
user17768061336
Level 1
DanDives76
Level 1
user17762826293
New Member
smbmighty
Level 1