Why is Pro Series not allowing an S Corp shareholder health insurance correctly on W-2 to flow to 1040 line 29 when shareholder also receives a form 1095-A (with no premium tax Credit?
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This is governed by Revenue procedure 2014-41, and leads to an unfavorable taxpayer conclusion, where essentially the PTC which they do not end up being allowed to claim reduces their SEHI adjustment.
This is governed by Revenue procedure 2014-41, and leads to an unfavorable taxpayer conclusion, where essentially the PTC which they do not end up being allowed to claim reduces their SEHI adjustment.
My second guess (much less likely since it's not hiding on some obscure worksheet somewhere like the medicare wages box) is that your 1095-A is not linked to the S Corp. At the bottom of the 1095-A there's a "Business Related Premiums Information Smart Worksheet" where you can double click in the "box" next to "Schedule K-1, S-Corp" and link this form to the S Corp. You also have to fill in the start/end months at the very bottom.
Rick
My first guess (as others have alluded to) is that you're running into an income limitation for SEHI. Here's the first place I'd look:
On your Sch K-1 Wks for this S Corp, right above "Part III" there is a QuickZoom to enter health insurance paid. That will take you to the K1S Addl Info 1 worksheet and put you at the bottom of the form in a section for "Outside Expenses". The interplay with the 1095-A is going to be weird so I'd leave box 1 blank "Health insurance premiums paid . . . that were not reported on 1095-A" but the important entry will be box 2, "Medicare wages from this corporation". Put the number from box 5 of the W-2 here.
Rick
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