I am a >2% of an S Corp trying to complete our tax return for 2015.

The company paid my medical insurance for the year. The policy was in my own name. When making out my W2, I included that amount as gross wages in box 1 of the W2. My understanding is that I can claim that as a deduction on my 1040 tax return.

The tax software I am using asks for that amount to be entered and also shows it as a deduction on the 1020 This seems wrong to me - surely it is not possible to claim a deduction for the company AND as a personal deduction on my 1040?

Can someone explain this to me?

Thanks

Health insurance premiums paid by your S Corp for you, more than 2% shareholder , must be treated as wages to you;the only way your S Corp can deduct the amount paid for your health insurance is to include it as part of your salary; Thankfully, no Social Security and Medicare tax is withheld for your wages attributed to the insurance premium.you may be eligible to deduct the medical insurance premiums fromyour agi on your 1040 income tax return. if you oryour spouse is also eligible to participate in any other subsidized health care plan, thenyou cannot take a deduction from AGI on your 1040 on sch A subject to 10% of yopur agi unless you are older than 65 yofor the medical insurance paid by the S Corp.