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Wallstreet Esq.
Wallstreet Esq., Tax Attorney
Category: Tax
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Experience:  10 years experience
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I have an S-Corp which paid my health insurance premiums, I

Customer Question

I have an S-Corp which paid my health insurance premiums, I am the only employer. My accountant put the total amount for the year in box 14 on my W-2 and i'm pretty sure i'm supposed to then put this amount on line 29 of form 1040 as an adjustment to gross income
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Submitted: 11 months ago.
Category: Tax
Expert:  Angie replied 11 months ago.
No...the amount in box 14 is an "informational" amount. This is only the amount a company paid on your behalf for health insurance and should be signified with a code DD. Because you receive a W-2 from your corporation, you are not considered "self employed" and do not qualify for the self employment health insurance deduction. The deduction would have been claimed by the corporation as an employee benefit.