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Old 05-08-2017, 05:40 PM
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Join Date: May 2017
Posts: 6
2% shareholder insurance expenses

In 2017 , My daughter and I are both more than 2% shareholders ( active ) of our S corp as owner/employee , there is no other employee. Our S corp filed form 1120S and both myself and daughter are Owner /employee
and we are paid salary by our S corp.My daughter is not my dependent.

We paid our medical health insurance individually /separately and S corp then reimbursed our medical insurance . S corp include this medical health amount in our W2 Box 1 (wages) and does not include this amount in W2 box 3 (social security wages ) and Box 5 ( Medicare wages) .
Both of us file tax return form 1040 ,standard deduction :- Can we claim the Deduction ( medical health insurance ) on Form 1040, Line 29:?

I am concerned since there are more than one shareholders ( owner employee) that S corp reimbursed medical Insurance to shareholders. Is this allowable ?

Appreciate your advice

Thanks
JLYS



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