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bwuenstel
New Member

I entered the amount my scorp paid for health insurance and medicare on the K-1, but only the medicare amount is showing on line 29 of the 1040 form.

I entered the amounts for both medicare and health premiums paid by the Scorp.  Only the medicare about is showing up.  How do I get it to recognize my premium amount in line 29.  I have more than enough income on the K-1 to cover the premium amount.



1 Best answer

Accepted Solutions
TaxGuyBill
Level 9

I entered the amount my scorp paid for health insurance and medicare on the K-1, but only the medicare amount is showing on line 29 of the 1040 form.

Great, I'm glad you figured it out.

View solution in original post

5 Replies
Critter
Level 15

I entered the amount my scorp paid for health insurance and medicare on the K-1, but only the medicare amount is showing on line 29 of the 1040 form.

Did you enter the amount as one figure ?
TaxGuyBill
Level 9

I entered the amount my scorp paid for health insurance and medicare on the K-1, but only the medicare amount is showing on line 29 of the 1040 form.

Although it is entered in the K-1 section of TurboTax, the amount of corporate-paid health insurance is added to box 1 of the W-2.  Did you do that?

Do you also have more than enough income in box 5 on the W-2 that you received from the corporation?
bwuenstel
New Member

I entered the amount my scorp paid for health insurance and medicare on the K-1, but only the medicare amount is showing on line 29 of the 1040 form.

I have over 10x the amount in box 5.  Turbo tax added the insurance premiums to box 1 when I prepared the scorp filing.  But for some reason the home and business will not add the amount to line 29.  Any other thought?
bwuenstel
New Member

I entered the amount my scorp paid for health insurance and medicare on the K-1, but only the medicare amount is showing on line 29 of the 1040 form.

I figured it out.  I entered box 4 instead of box 5 and so it took the lesser of the 2 amounts.  I"m good now thank you so much for you time and help.
TaxGuyBill
Level 9

I entered the amount my scorp paid for health insurance and medicare on the K-1, but only the medicare amount is showing on line 29 of the 1040 form.

Great, I'm glad you figured it out.

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