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posted Jun 4, 2019 4:16:34 PM

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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Level 15
Jun 4, 2019 4:16:36 PM

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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Level 15
Jun 4, 2019 4:16:36 PM

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.