s corp medical ins for >2% shareholder in QuickBooks

[cred65]

Trying to grossup pay for medical insurance to end with a $0 check but not working.

[jainen]

>>not working<<

Party on the weekend. Try again come Monday.

[kcjenkins]

Your question is unclear. What are you doing, preparing a W-2 for an employee? And what is happening when you create the W-2?

[cred65]

Your question is unclear. What are you doing, preparing a W-2 for an employee? And in what program?

In QuickBook I am attempting to add the Medical insurance to 2%> shareholders gross pay as an after the fact adjustment. I am having a problem following QB procedures (or lack thereof).

[kcjenkins]

OK, then I'm going to edit your message title to make it clear that this is a QB question, and hopefully one of our QB experts will be able to help you.

[10SorTAX]

I certainly don't qualify as a QB expert, but I can help you with this one. You set up the payroll item under Lists>Payroll Item>S Corp Medical. When you create the paycheck you enter the S Corp Medical Insurance under Other Payroll Items, not in the Earnings section. It will not display in the Employee Summary (so no need to gross up for zero result) but it will show up on reports. It will be added to taxable wages on Forms 941 and W2, but will not be included in SS wages or Medicare wages. Hope that helps.

[cred65]

I certainly don't qualify as a QB expert, but I can help you with this one. You set up the payroll item under Lists>Payroll Item>S Corp Medical. When you create the paycheck you enter the S Corp Medical Insurance under Other Payroll Items, not in the Earnings section. It will not display in the Employee Summary (so no need to gross up for zero result) but it will show up on reports. It will be added to taxable wages on Forms 941 and W2, but will not be included in SS wages or Medicare wages. Hope that helps.

Thanks, it worked.