Bird1
Level 2
12-07-2019
11:28 AM
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Taxpayer reports health insurance benefits on their W-2 due to the fact that parent owns greater than 2% of s-corporation - Taxpayer is an adult- Does taxpayer get an above the line health insurance deduction?
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TaxMonkey
Level 8
12-07-2019
11:28 AM
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Yes, and attributed S-corp is still and S-corp owner and qualifies for SEHI.
itonewbie
Level 15
12-07-2019
11:28 AM
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I'd say yes because §162(l)(5) refers to §1372 which, in turn, refers to §318 for attribution.
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Bird1
Level 2
12-07-2019
11:28 AM
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my thoughts were that if he owned the stock by attribution-he owns the stock when he takes HE deductions Taxpayer is 35
itonewbie
Level 15
12-07-2019
11:28 AM
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Sorry seems like our messages have crossed. I edited my original response because I seemed to have misread your question.
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