1120s Medical Expenses

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S Corporation Compensation and Medical Insurance Issues

https://www.irs.gov/businesses/small-businesses-self-employed/s-corporation-compensation-and-medical-insurance-issues

The instructions to the Form 1120-S, U.S. Income Tax Return for an S Corporation, state "Distributions and other payments by an S corporation to a corporate officer must be treated as wages to the extent the amounts are reasonable compensation for services rendered …

Instructions for Form 1120-S (2022) | Internal Revenue …

https://www.irs.gov/instructions/i1120s

Rental activity expenses. Report these expenses on Form 8825 or line 3b of Schedule K. Deductions allocable to portfolio income. Report these deductions on line 12d of …

1120S - Shareholder Health Insurance (K1, W2) - Drake …

https://kb.drakesoftware.com/Site/Browse/11737/1120S-Shareholder-Health-Insurance

The shareholder may be able to claim the Self-Employed Health Insurance Deduction on their 1040 return. Page 16 of the Instructions for Form 1120-S states: "Report amounts …

Can an 'S' Corporation Deduct Medical …

https://yourbusiness.azcentral.com/can-s-corporation-deduct-medical-expenses-its-only-officer-24789.html

Health insurance is deductible for any S Corporation shareholder who owns more than 2 percent of the company and is not covered by other health insurance. While an …

Solved: What line of IRS Form 1120 do I record medical …

https://ttlc.intuit.com/community/business-taxes/discussion/what-line-of-irs-form-1120-do-i-record-medical-deductions-for-my-c-corp/00/45925

May 31, 2019 5:53 PM. If this is for the benefit of the employees then it belongs on line 24. Line 24. Employee Benefit. Programs. Enter contributions to …

S Corporation Owner - How To Treat Medical Insurance …

https://www.gkaplancpa.com/s-corporation-owners-how-to-treat-medical-insurance-premiums/

Health insurance premiums paid by an S Corp for more than 2% shareholders must be treated as wages to that owner. In other words, the only way an S …

Deduct Medical Expenses in Your S-Corp | ClearPath …

https://myclearpathadvisors.com/corporations/deduct-medical-expenses-in-your-s-corp/

We can help you create set up your HRA. Contact your bookkeeping and accounting professionals for small businesses in Detroit Lakes, MN or Fargo, ND at 218 …

How to Deduct Shareholder Health …

https://amynorthardcpa.com/how-to-deduct-shareholder-health-insurance-for-s-corporations/

The premiums the business paid can be deducted on your Form 1040 (line 29) and as a business expense on Form 1120S. Your health insurance premiums paid by your …

Solved: Schedule K-1 (1120S) Medical Insurance …

https://proconnect.intuit.com/community/proseries-tax-discussions/discussion/schedule-k-1-1120s-medical-insurance-premium-for-more-than-2/00/161111

A client received a Schedule K-1 for an S Corp for which he is a more than 2% shareholder. He is also an employee of this company. He indicated to me that the …

Schedule K-1 (Form 1120-S) - Health Deduction …

https://www.taxact.com/support/16480/2020/schedule-k-1-form-1120-s-health-deduction-worksheet

Health Insurance Premiums for a more than 2% shareholder of a S-Corporation are reported in Box 14 of the individual's Form W-2 Wage and Tax Statement.. To get the amount …

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