ILLMAS Posted April 11, 2011 Report Posted April 11, 2011 TP receives free health insurance from a union for daycare providers, at the of the year she receives a 1099, line 3 other income. In the past I would offset it on the 1040, in 2010 she incorporated and no longer is considered SE, would it make sense to report the cost of the insurance on the 1120S reducing income, and still report it on the 1040 as other income line 21. Quote
jainen Posted April 24, 2011 Report Posted April 24, 2011 >>would it make sense to report the cost of the insurance on the 1120S reducing income<< No, it wouldn't make sense for the corporation to take a deduction for an expense that the corporation did not incur. Why did you put it on the 1040 in the past? Quote
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