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Hi All! I have an S-corp more than 2% owner that pays himself via W2.
He's got insurance off the marketplace. I'm linking the K-1 to the 1095-A but it's still not calculating a SE health insurance deduction. It's just showing the premiums on Schedule A. Are S-Corp owners not allowed to take the SE health insurance deduction if they pay themselves as an employee?? I must be missing something.
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One of the K-1 worksheets asks for the Medicare Wages from the W-2 for the health insurance deduction. You need to fill that in.
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found it! Thank you sooo much!!!!!
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To clarify: "if they pay themselves as an employee??"
They Have To do this. That is not optional.
Don't yell at us; we're volunteers
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Yes, I'm aware. I was just saying paying themselves W2 wages vs draws. thanks for the help!
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"I was just saying paying themselves W2 wages vs draws."
There is no such thing as Draws, here. You cannot Draw from a corporation, and you cannot take only distributions if you work for the entity, as well as being a shareholder.
There is no If, Vs, or any other qualifying statement.
Don't yell at us; we're volunteers
