IRS FAQ 33 Per the Tax Cuts and Jobs Act, Provision 11011 Section 199A - Qualified Business Income Deduction FAQs says that an S corporation shareholder who owns more than 2 percent may have to reduce QBI at both the entity (S corporation) and the shareholder (1040 tax return) levels for his or her self-employed health insurance deduction. If this is correct, then a more than 2% S Corp shareholder would need to subtract self-employed health insurance from QBI twice. This seems wrong. Can anyone show any guidance on this?
Also, currently, Lacerte Software doesn't subtract the health insurance twice.
