can a > 2% shareholder/employee of an SCorp take the above the line self employed health insurance deduction on 2020 Form 1040 Schedule 1.lin 16? .

[MaryK4 · Accepted solution]

Yes, If you are a more-than-2% shareholder in an S corporation, the policy can be either in your name or in the name of the S corporation. You can either pay the premiums yourself or the S corporation can pay them and report them as wages. If the policy is in your name and you pay the premiums yourself, the S corporation must reimburse you. You can deduct the premiums only if the S corporation reports the premiums paid or reimbursed as wages in box 1 of your Form W-2 in 2020 and you also report the premium payments or reimbursements as wages on Form 1040 or 1040-SR, line 1.

[nouna]

Thank you. This is a response that CLEARLY addresses my question!!!