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Should I check the box "I personally paid health insurance" if my LLC pays half of the premium and the other half is deducted from my W-2

When completing Schedule K-1 income, on the Other Situations page, there is a box that says "I personally paid health insurance and/or long-term care insurance premiums for myself and my family and this S corporation paid me wages. My salary is $65,000, but my W-2 only shows $55,394. I believe that the difference is the health insurance premiums that I had to pay?
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1 Reply
PatriciaV
Employee Tax Expert

Should I check the box "I personally paid health insurance" if my LLC pays half of the premium and the other half is deducted from my W-2

If you can confirm that the difference between your stated salary and the amount on Form W-2 represents health insurance payments made on your behalf, you can enter that difference for "personally paid health insurance." Be sure to keep any documentation for this amount with your tax records.

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