self employed health insurance

[irablecker]

I have an S corporation which I report on my 1040 through a K-1 statement. How do I deduct in Turbotax self-employed insurance premiums paid by me and not through my business?

[AmeliesUncle]

Did the corporation reimburse you for those expenses (and therefore add that amount to Box 1 of your W-2)?  If not, they don't qualify for the Self Employed Health Insurance deduction.  You would just enter them as a Medical expense for an Itemized deduction (but due to limitations, that may not save any tax).

If the corporation DID reimburse you for the health insurance (and therefore did the requirement of adding it to Box 1 of your W-2) AND the insurance was NOT through the Healthcare Marketplace, there is a check-box in the K-1 section about health insurance.  Check that and answer ALL of the followup questions. 

If the corporation DID reimburse you for the health insurance (and therefore did the requirement of adding it to Box 1 of your W-2) AND the insurance was WAS through the Healthcare Marketplace, there is a check-box in the K-1 section about health insurance.  Check that,  enter ZERO for the cost, and answer ALL of the followup questions.  Then on the  screen immediately after entering (or editing) your 1095-A, check the self-employed box.

[irablecker]

Thanks for the very detailed reply. The last few years I was able to just list my medical insurance expenses under business expenses. No problem. This year is quite different.

[AmeliesUncle]

If you are new to corporations, you REALLY, REALLY need to be consulting with a good tax professional that knows corporations.