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February 2, 2025
Question

How to enter Schedule 1 line 17 heatlh insurance deduction if shown on W-2 for 2% Shareholder?

  • February 2, 2025
  • 1 reply
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Where can I enter the insurance deduction for a 2% shareholder that is shown on W-2?

    1 reply

    February 4, 2025

    You'll enter your health insurance information with your Schedule K-1.

     

    Once you've logged in to your account and on the Tax Home page:

    - click Income & expenses and then Review/Edit or Work on other income

    - if you've already entered your Schedule K-1 from the S corporation, click Add/Edit and then click Update next to S Corporation

    - on the K-1 summary screen, click Edit next to your K-1

    - click through until you get to the Other Situations screen

    - check the box that says "I personally paid health insurance..." and click Continue

    - enter the amount from your W-2 and the amount paid for health insurance, click Continue

    - enter any long term care insurance, if any, you paid, then click Continue

     

    You've just entered your self-employed health insurance and the remaining screens will walk through other areas of interest.