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I have self-employed income under a K-1. I contributed to my HSA with my self-employed income. Where can I can edit my K-1 to enter self-employed HSA contributions?

Forum|Forum|7 years ago
June 6, 2019
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I have self-employed income reported on K-1 from January to November. I made health insurance premium payments and contributions to my HSA from that self-employed income. I took a new job in November with salary that will be on a W-2. Due to a waiting period I have made no health insurance or HSA contributions with the W-2 income.

I cannot find a way to enter my self-employed HSA contribution so that it provides a deduction for my self-employed income. The K-1 portion of TurboTax has a spot for self-employed health insurance premiums, but not HSA contributions. Please advise.

TurboTax Home & Biz Windows

Best answer by PaulaM

Contributions to an HSA by a self-employed individual are not deductible from your self-employed earnings.

You would enter these contributions as 'contributions that you personally made'. They will flow to line 25 on the 1040 as a reduction to your gross income (the same effect as a pre-tax deduction).

https://www.thetaxadviser.com/issues/2017/jul/contributions-hsas.html

P

PaulaMAnswer

Employee

Contributions to an HSA by a self-employed individual are not deductible from your self-employed earnings.

You would enter these contributions as 'contributions that you personally made'. They will flow to line 25 on the 1040 as a reduction to your gross income (the same effect as a pre-tax deduction).

https://www.thetaxadviser.com/issues/2017/jul/contributions-hsas.html

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Critter

Employee

https://ttlc.intuit.com/replies/4557768

G

gcb117Author

Critter#2, I see that screen, but it shows "2017 employer and payroll contributions (Box 12 of your W-2)" this is at $0 and does not allow for editing because it is tied to W-2 input. My HSA contribution was not from W-2 wages and my Box 12 is blank. Then there is the option for "Any contributions you personally made (not through your employer)." This still is not helpful because yes, I made the contribution, but as my own employer. Putting in the contribution amount here fails to provide me the pre-tax savings or deduction, presumably because it is being treated as a post-tax contribution.