Health Insurance deduction S Corp 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 |