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1116 SE health insurance adjustment

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Level 2
last updated ‎June 02, 2020 3:10 PM
 
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Level 15
last updated ‎June 02, 2020 3:10 PM

Then, there's nothing to allocate.

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Level 14
last updated ‎June 02, 2020 3:10 PM

What is your question?


ex-AllStar
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Level 15
last updated ‎June 02, 2020 3:10 PM

Huh ?

Former Chump... umm.... AllStar.
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Level 2
last updated ‎June 02, 2020 3:10 PM

I got a “Suggestion” on my return that said the program saw that there was SE income and Foreign transactions on the K-1.  So it warned that the program doesn’t allocate SE expenses related to K-1 income to the 1116.  Examples include SE Health insurance, deductible portion of SE tax and SEP deductions.  I do not where to make these adjustments in the program.

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Level 15
last updated ‎June 02, 2020 3:10 PM

Does the partner have any foreign source self-employment income under the General Limitation basket?

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Level 2
last updated ‎June 02, 2020 3:10 PM

No.  She has only Foreign divs on stock investments.

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Level 15
last updated ‎June 02, 2020 3:10 PM

Then, there's nothing to allocate.

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Level 2
last updated ‎June 02, 2020 3:10 PM

Thank you!

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Level 15
last updated ‎June 02, 2020 3:10 PM

NP, @mstsax!

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Still an AllStar