turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

kees08
New Member

If I get my health insurance through a business different than the one listed on my K-1, do I selected that I have 'personally paid health insurance?'

I am not sure how to answer "I personally paid health insurance and/or long-term care insurance premiums for myself and my family." I get health insurance through a separate business, and I pay for part and that business pays for part.
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Reply
MichaelDC
New Member

If I get my health insurance through a business different than the one listed on my K-1, do I selected that I have 'personally paid health insurance?'

Are you a shareholder in that business also? Did you get a K-1 and W-2 from that business? If so, the following would apply.

If you own 2% or more of the S Corporation, and the S Corporation included health insurance premiums (or any reimbursement for health insurance premiums you paid) in Box 1 of your W-2, the self-employed health insurance premiums must be entered under each corresponding business, farm, partnership or S corporation K-1 topic to which the insurance payments apply. Do not enter an amount that exceeds the amount of premiums or reimbursement included in box 1 of your W-2. Any excess deductions can be entered under medical expenses in the deductions and credits section of TurboTax.

Do not include health insurance purchased through a Health Insurance Marketplace (also known as an exchange). These premiums are entered on Form 1095-A in the program.

If you own less than 2% of your S Corporation you are not entitled to claim a health insurance deduction or long-term care deduction for self-employment and should not enter an amount in this box.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies