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- 2% Shareholder Health Insurance - K1?
2% Shareholder Health Insurance - K1?
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kelly6
Level 2
02-06-2022
11:20 PM
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A 2% shareholder is reimbursing themself for their health insurance.
For this example - their compensation was $100k, including $2k of health insurance premium.
This has been correctly reported on their W2 in box 14.
On their 1020S and / or Schedule K1, do I need to break this out anywhere?
Or, do I just include the full $100k as officer's compensation, and not worry about any further breakouts.
For this example - their compensation was $100k, including $2k of health insurance premium.
This has been correctly reported on their W2 in box 14.
On their 1020S and / or Schedule K1, do I need to break this out anywhere?
Or, do I just include the full $100k as officer's compensation, and not worry about any further breakouts.
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qbteachmt
Level 15
02-07-2022
01:06 PM
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One detail that matters, is how did the premium get paid? Another is, was this a Marketplace policy? Medicare? Was it from their payroll as deducted, before or after tax? Was it a spouse's employment coverage and paid "over there?" With pre-tax dollars?
Is it separately reported in Box 14 or12 of the W2?
Details will matter.
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