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My w2 shows the S corp owner insurance contributions in block 14 vs block 1. TT does not add it in as wages (or please tell me how). should i get the w2 fixed? Thanks!

Forum|Forum|7 years ago
June 1, 2019
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TurboTax Deluxe Windows

Best answer by Rick19744

I would first confirm that this amount is not included in box 1. You certainly do not want to include this twice.

If you are sure that it is not included in your compensation add the insurance amount to your 1040 on line 21. It is not subject to FICA. However, I would speak with your payroll provider to make sure that this is handled correctly next year.

Rick19744Answer

Employee

I would first confirm that this amount is not included in box 1. You certainly do not want to include this twice.

If you are sure that it is not included in your compensation add the insurance amount to your 1040 on line 21. It is not subject to FICA. However, I would speak with your payroll provider to make sure that this is handled correctly next year.

*A reminder that posts in a forum such as this do not constitute tax advice.Also keep in mind the date of replies, as tax law changes.