Health Insurance paid for LLC Members
LLC return. Where do I enter amount paid for health insurance for LLC members?
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02/20/11 8:23pm PST
Viewed by asker 02/25/11 2:15pm PST
Viewed by asker 02/25/11 2:15pm PST
5 Replies
Amy-in-PA
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02/21/11 6:16am PST
I haven't done one like this, but I would guess you probably have to put it somewhere on Schedule K.
Back up before it's too late. For a professional answer, call Tech Support at 1-800-933-9999 (Lacerte)(other numbers ProSeries, QB, or TurboTax). I am a volunteer, not compensated or supported by Intuit.
Accountant Man
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02/21/11 6:58am PST
Which federal tax return is the LLC filing?
If you use Pro Series Basic I might not be able to help you. If you use Turbo Tax I might refuse to help you. All others, watch out! ;-)
PhoebeRoberts
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Mod/Co-mod
02/21/11 7:00am PST
As a GP in the deductions screen, then click the adjacent button to go to the second input field. Don't forget to specially allocate.
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02/25/11 2:15pm PST
Phoebe, when I do that (enter onthe deductions screen as Guaranteed payment, enter as Health Insur for Ptnrs, specially allocate) it throws off my ending balance on my balance sheet. What do I do about that?
02/25/11 2:31pm PST
Latest post
Throws off ending cap accounts? It doesn't for me. Mine balances without any fiddling needed.
Be sure you aren't double-deducting it as insurance expense.
