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dunmead
New Member

I am retired, but own part of two businesses (k-1)... I entered heath care insurance and longterm care insurance on 1 business, should I enter it on the second business

 
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dmertz
Level 15

I am retired, but own part of two businesses (k-1)... I entered heath care insurance and longterm care insurance on 1 business, should I enter it on the second business

No.  You are only allowed to associate the self-employed health insurance with one of the businesses.  Assuming that the insurance is in your name rather than in the name of one of the businesses, you would probably want to associate it with the business with the higher net profit.

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dmertz
Level 15

I am retired, but own part of two businesses (k-1)... I entered heath care insurance and longterm care insurance on 1 business, should I enter it on the second business

No.  You are only allowed to associate the self-employed health insurance with one of the businesses.  Assuming that the insurance is in your name rather than in the name of one of the businesses, you would probably want to associate it with the business with the higher net profit.

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