LLC deducts health insurance premiums on Schedule A

Forum|Forum|11 months ago
April 14, 2025
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I have an LLC partnership consisting of my Wife and me. I deduct the health insurance premiums paid by the LLC on Schedule A. I forgot to put the amount on Line 13 code M. I do not know if I am understanding this properly, but IF the LLC pays the health premiums and deducts from the gross, does it count as a personal deduction? If I enter the amount on line 13 code M, ir REDUCES my taxes. This doesn't make sense.

MAK70

Partnership health insurance is an adjustment to income on the personal tax return, which reduced your taxable income. If you want to take it as a Schedule A itemize deduction, so not enter it in the deductions & credits section.

Joe VentolaAuthor

Thank you so much for the quick answer. So if the LLC deducts the health insurance premiums on the 1065 deduction schedule, that should be included in the K1 box 13 as code M? I am having an issue understanding this because the health premiums are deducted PRE TAX on the 1065 and it allows me to deduct them on my personal taxes too??

MAK70

No, the partnership can pay the premiums, but you can still deduct on your personal return. It is not pre-tax because the income reported on the 1065 Partnership return (Line 23, which your share is on Line 1 of your K-1) does not include a deduction for the health insurance. @Joe Ventola