S Corp and Deduction of Health Ins Prem.?

[luke4275]

I;ve heard yes and no on this, yes from a cpa and no from a tax attorney.

Let's say you have a s corp and your own health insurance prem is 12k. You write a check from the business.

Is that allowed? My cpa says yes, the tax attorney says no. anyone know?

 

[Sales71]

Stick to ur CPA.

 

[xrac]

The answer is yes on an SCorp. The answer is no on an LLC. That is my understanding.

 

[padthaiforlunch]

It is not directly deductible on the 1120S, just reported. The deduction will happen on your personal return under self-employed health insurance.
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But yes, you can use the business account to pay for it.