SunTaxMan Posted April 12, 2011 Report Posted April 12, 2011 1120S Health Insurance, added to W-2, box 1. K-1 shows loss for the year. Return shows W-2 income well in excess of health insurance. Health Insurance shows on Schedule A, but not 1040, page 1 as adjustment. I am assuming the loss on K-1 prohibits the 1040 adjustment of AGI, but I wanted to make sure. Thanks, Quote
grmy2h Posted April 12, 2011 Report Posted April 12, 2011 Be sure you've entered the W-2 Box 5 wages from the S-Corp if he's more than a 2% shareholder. It should then allow it. Quote
SunTaxMan Posted April 12, 2011 Author Report Posted April 12, 2011 Taxpayer IS 2%+ Shareholder. Box 5 has entry. In fact, W-2 boxes with entries are 1 through 6, 12, and 15 through 1 7. I wondered if the problem is "operator error," (as it so often is with "computer" problems) but..... Quote
grmy2h Posted April 12, 2011 Report Posted April 12, 2011 Sorry, I meant on line 29, scroll down to line 11 and enter it there. Quote
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