Randall Posted February 16, 2015 Report Share Posted February 16, 2015 Client says his health insurance agent insists that his LTC premiums are deductible on his S Corp return. Am I missing something? Unless there's some kind of benefit plan set up (and I would think it would have to include other employees), I'm thinking this is just his personal LTC insurance policy. 1040 Sch A. Ky does give a direct deduction. Quote Link to comment Share on other sites More sharing options...
Lee B Posted February 17, 2015 Report Share Posted February 17, 2015 Someone been drinking a little too much Jim Beam 1 Quote Link to comment Share on other sites More sharing options...
Ringers Posted February 17, 2015 Report Share Posted February 17, 2015 Under the old rules where shareholder health insurance could be paid by the S-Corp, shown on the shareholders W-2 as wages not subject to FICA, and then deducted on the shareholder's 1040 as SE Health Insurance, the rules for what constituted health insurance premiums did include LTC premiums. that is perhaps what the client is referring to. 2 Quote Link to comment Share on other sites More sharing options...
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