How to Deduct Health Insurance for S Corporation Shareholders on Form 1120-S and Form 1040

If you are a shareholder in an "S" corporation, you are allowed to have the company pay for your health insurance premiums and deduct the cost on the Form 1120-S tax return. This video discusses the reporting requirements on Form W-2, Form 1120-S, Schedule K-1, and Form 1040. For a larger database of tutorials, please visit our website and search for your question: https://knottlearning.com/ DISCLAIMER: The information provided in this video may contain information about tax, financial, and legal topics. Such materials are for informational purposes only and may not reflect the most current developments. These informational materials are not intended and should not be taken as tax, financial, or legal advice. You should contact an advisor to discuss your specific facts and circumstances. Self-help services may not be permitted in all states or jurisdictions. The use of these materials does not create an attorney-client or confidential relationship. This video does not include information about every topic or issue related to these informational materials. #IRS #Scorporation #HealthInsurance