Line 29 self employed health insurance

[terryl_tt]

It looks like this deduction is no longer available, at least not if I take the standard deduction.  My sub-s pays my MC supplemental and my part D.  It takes a deduction, but the amounts are added to box 1 on my W2.  In the past I deducted that amount on line 29 of my 1040.  But now I am paying taxes on those premiums.  So now it appears that the best thing to do is to pay the premiums personally.  This would reduce box 1 on my W2 and if I happened to have deductions over the standard deduction, I could use them.

Is my logic correct?  Or is there a reason to continue paying premiums in the Sub-S?

Thanks,

Terry

[TaxGuyBill · Accepted solution]

They are still a deduction on Line 29 (now it has moved to Line 29 of Schedule 1).  Taking the Standard Deduction does not affect that.

Have you gone through the K-1 section, and checked the box about health insurance, then answer the followup questions (including entering Box 5 of your W-2, while still in the K-1 section)?