S Corp owner & SE health insurance deduction

5 replies
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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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Angela1111Answer

Level 3

found it! Thank you sooo much!!!!!

T

TaxGuyBill

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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Angela1111AuthorAnswer

Level 3

found it! Thank you sooo much!!!!!

qbteachmt

Level 15

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

A

Angela1111Author

Level 3

Yes, I'm aware. I was just saying paying themselves W2 wages vs draws. thanks for the help!

qbteachmt

Level 15

"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

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