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Old 12-20-2010, 12:18 PM
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single member LLC electing to be taxed as an S-corp

My husband is a single member LLC electing to be taxed as an S-corp and owns more than 2% of the LLC. I understand that he can deduct medical insurance premiums for self, spouse, and dependent for 2010. The insurance plan is under his individual name and he pays for the premiums outside the LLC. Does he need to have the LLC reimburse him or can he just deduct on his 1040? Is he limited to his K-1 amounts for his deduction? What is the process for reimbursement of these premiums?

Thank you,
Sandi



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Old 12-23-2010, 07:08 AM
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no he does not need to have need to have the LLC reimburse . . . !!!
cause he is to be taxed as a S-crop .



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