Entering health insurance premiums (W-2) for a more than 2% shareholder in ProConnect Tax

This article will assist you with entering health insurance premiums (W-2) for a more than 2% shareholder in the S-Corporate module of Intuit ProConnect.

You can report health insurance premiums in the following places:

• Somewhere on Form 1120-S
• To the shareholder on Schedule K-1, box 17, code V
• Form W-2, box 14

See one of the methods below for instructions on reporting health insurance premiums.

Reporting health insurance premiums on Form 1120-S

There are 3 methods for reporting health insurance premiums on Form 1120-S.

Reporting on Form 1120-S, line 7 - Compensation of officers

1. Go to Input Return ⮕ General ⮕ Officer Information.
2. For each officer, include the premiums in the Officer compensation field.
   • Click the plus (+) tab at the top of the screen to add another officer.

Reporting on Form 1120-S, line 19 - Other deductions

1. Go to Input Return ⮕ Ordinary Income ⮕ Deductions.
2. Locate the Deductions section.
3. Enter the premiums in Insurance.

Reporting on Form 1120-S, line 12a - Other deductions

1. Go to Input Return ⮕ Schedule K ⮕ Income and Deductions.
2. Scroll down to the Deductions section.
3. Click inside of the Other deductions (Click on button to expand) field.
4. Select S = Other deductions as the K-1 Code (Click on arrow to select).
5. Type in Shareholder Health Insurance as the Description.

Reporting health insurance premiums on Schedule K-1, box 17, code V

1. Go to Input Return ⮕ Schedule K-1 ⮕ Schedule K-1 Misc./Schedule B-1.
2. Select the applicable shareholder.
3. Locate the Schedule K-1 Miscellaneous section.
4. Enter premiums in Health insurance premium reported on W-2 for more than 2% shareholder.
   • Use this field even when the shareholder didn't receive form W-2 from the S-corporation.
   • This appears on Schedule K-1, box 17 as Supplemental Information.

Reporting health insurance premiums on Form W-2, box 14

ProConnect Tax doesn't generate Form W-2. Refer to this article for instructions on entering Form W-2, box 14 in ProConnect Tax.