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March 29, 2025
Question

Self employment health insurance deduction. How to get in into Home and Business when my business produces a 1065.

  • March 29, 2025
  • 1 reply
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1 reply

VolvoGirl
March 29, 2025

Did you get a K-1 from the 1065 to enter into your personal return?   Here’s old notes I had.

 

For K-1 Health Insurance

You will come across the entry screen when you enter the K-1 or if you already entered the K-1......

 

This amount is entered on the K-1.  Return to this K-1 and follow these steps to enter the health insurance premiums:

- Click on the Federal taxes tab or Personal for Home & Business 

- Click on Wages and Income

 

- Scroll down to Business Investments and Estate/Trust Income

- Schedules K-1  Click Start or Revisit

- Schedules K-1 or Q screen, Do you want to Review - click Yes

- Tell Us About Your Schedules K-1 screen,  click Update by 1065 or 1120S Form

- Click Edit by your K-1

- Click through the screens until you see Other Situations or the Describe this Partnership screen

- Check the box for "I personally paid health insurance..." - Continue

- Enter the amounts requested for this K-1