S-corp K-1 line 17 for self empl health ins shows 9,444 that I was reimb, but I actually paid 18,056 for health prem, but it only puts the 9444 on line 29, not the 18,056

[Critter]

Did you get a W-2 and was the health insurance you paid included in the box 1 amount ?  

[tandr83]

No it is in box 14 Other - S-corp 9444.00, because we have a partner and his is less, we have to take the lesser amount in the S-corp.  but I have always been able to then take the whole amount I have paid on line 29, but it is not doing that now

[Critter]

Do you get a W-2 at all from that company  ?

[tandr83]

Yes I get a W2 and yes it is included in block 1, also as health ins prem box 17 I am a 50% owner.  But is a partial reimbursement amount because my partner pays less than we do and we only reimburse as the lower amount.  I should be able to put the whole amount that I pay on line 29 and Turbo Tax is only putting the lessor amount

[TaxGuyBill]

No, you are limited to the amount the the corporation pays for (which should be the same amount that is added to Box 1 of the W-2).

[Critter · Accepted solution]

Due to the rules that changed a couple years ago you MUST have a W-2 for the wages and the health insurance payments MUST be included in box 5... so if you may have been doing it incorrectly ... see these screens ...

[Anonymous]

it is very possible the S-Corp return was prepared inaccurately.  the premiums for health insurance paid by the S-Corp for each 2%+ shareholder should have been reported as compensation on line 7 or 8.  in addition the premiums should have been reported as part of gross wages box 1 on the W-2's (specifically allocated).  also reported in box 14. 

       from 2017 1120-s instructions

lines 7 and  8

Include fringe benefit expenditures made on behalf of officers and employees owning more than 2% of the corporation's stock. Also report these fringe benefits as wages in box 1 of Form W-2. Don't include amounts paid or incurred for fringe benefits of officers and employees owning 2% or less of the corporation's stock.These amounts are reported on line 18.

report amounts paid for health insurance coverage for a more-than-2% shareholder (including that shareholder's spouse, dependents, and any children under age 27 who aren't dependents) as an information item in box 14 of that shareholder's Form W-2. A more-than-2% shareholder may be allowed to deduct such amounts on Form 1040, line 29. To find out if the shareholder can claim this deduction, see Self-Employed Health Insurance Deduction in chapter 6 of pub 535

fringe benefits includes health insurance.  

if the health insurance was not handled as described above, the only deduction allowed for it would be as a schedule A medical expense. 

[Critter]

Ok ... if you completed these screens correctly in the K-1 entry section you should get the desired deduction on line 29 :