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Entering S Corp K-1 health insurance income and health insurance deduction in Lacerte

by Lacerte Tax 2023 Updated 10 months ago

On an S-Corp K-1, to input heath insurance that is being entered as income on Line 10 (code E) and then backed out as a deduction on Line 12 (code S), follow these steps:

  1. Enter the deduction side of the transaction (Line 12S) in Screen 20.2, S Corporation Information in Other Information.
  2. Enter the income side of the transaction in Screen 14.1, Miscellaneous Income in the Other Income (Ctrl+E) field.
Lacerte Tax

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