Webb19 juli 2024 · Select the Shareholder from the left navigation menu. Enter premiums in Health insurance premium reported on W-2 for more than 2% Shareholder (code 7). 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. Webb27 dec. 2024 · I can guide you through in adding the 2% S-corp health insurance to your …
Long-Term Care Insurance Tax Deduction for Greater Than 2% Shareholders …
Webb23 feb. 2024 · Employee Tax Expert. February 23, 2024 7:07 AM. As a greater than 2% shareholder of a S-Corp, your health insurance premiums are deductible as Self-employed health insurance. You can enter your health insurance costs when entering your form K-1. Revisit your K-1 entry until you get to the page Describe this Partnership. Webb10 dec. 2024 · However, 2% shareholders can deduct the premiums using the self-employed health insurance deduction their personal federal income tax return (i.e., on Form 1040). Cafeteria plans : A 2% shareholder is not eligible to participate in a cafeteria plan created under IRC Section 125, nor can the shareholders’ spouse, child, grandchild or … port stephens crime
Understanding the 2% Shareholder Health Insurance Wagepoint
Webb28 okt. 2013 · Health insurance premiums paid by an S corporation on behalf of its 2 percent shareholders should be reported as wages on shareholder W-2 forms. Too often, these payments are not included in wages because the premiums are paid along with those for rank-and-file employees. From the corporation’s perspective, premiums are different … Webb19 feb. 2024 · Shareholders can be employees or they can be individuals who do not … Webb19 juli 2024 · Select the Shareholder from the left navigation menu. Enter premiums in … port stephens crystal