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posted Feb 1, 2025 5:42:51 PM

How to enter Schedule 1 line 17 heatlh insurance deduction if shown on W-2 for 2% Shareholder?

Where can I enter the insurance deduction for a 2% shareholder that is shown on W-2?

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1 Replies
Expert Alumni
Feb 3, 2025 4:42:25 PM

You'll enter your health insurance information with your Schedule K-1.

 

Once you've logged in to your account and on the Tax Home page:

- click Income & expenses and then Review/Edit or Work on other income

- if you've already entered your Schedule K-1 from the S corporation, click Add/Edit and then click Update next to S Corporation

- on the K-1 summary screen, click Edit next to your K-1

- click through until you get to the Other Situations screen

- check the box that says "I personally paid health insurance..." and click Continue

- enter the amount from your W-2 and the amount paid for health insurance, click Continue

- enter any long term care insurance, if any, you paid, then click Continue

 

You've just entered your self-employed health insurance and the remaining screens will walk through other areas of interest.