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1040 line 7 = $135K wages an employer not related to my S-corp. 1040 line 17 = $90 from my S-corp K-1.

1040 line 29: "Self-employed health insurance deduction" Can I enter my $9300 health insur premium

  • If you did, it would show a $9210 loss from the S corp. If you show losses year after year, you are not in business, and can't take losses. – JoeTaxpayer Apr 16 '17 at 21:42
  • Is your health insurance through your employer, or do you get it on your own? – Ben Miller Apr 17 '17 at 0:22
  • Did you have any salary (besides the $90 profit) from your S-corp? – Ben Miller Apr 17 '17 at 0:24
  • (@JoeTaxpayer) according to the instructions for 1040 line 29 (at page 32 in the PDF) your deduction is the smaller of the premium paid (excluding months eligible for an employer plan) and 'your net profit* and any other earned income** from the business' (see original for notes). – dave_thompson_085 Apr 17 '17 at 0:51
  • Did you take out any dividends from the S-corp in 2016? – Ben Miller Apr 17 '17 at 11:39

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