Where do you input on a form 1065Items paid by partnership that flow to each partner k1. Ie long term care insurance life disability vision insurance ?

Forum|Forum|2 years ago
July 21, 2023
2 replies
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Which input form

TurboTax Online

Anonymous_

Employee

For a quick overview, see https://kb.drakesoftware.com/Site/Browse/10109/1065-Entering-Payments-for-Partner-Health-Insurance

Generally, the premiums are treated as guaranteed payments which the partners include in income (and the partnership can deduct unless the accounting results in a reduction in distributions to the partners). The partners can then deduct the premiums paid as adjustments to income.

TomD8

Employee

Your post indicates you are using TurboTax Online. In order to complete Form 1065, you must use TurboTax Business, which you can purchase here:

TurboTax Business CD/Download 2022-2023 | Desktop Business Tax Software (intuit.com)

**Answers are correct to the best of my ability but do not constitute tax or legal advice.