General Partner Health Insurance

[NotEasy]

Taxpayer is a general partner in a domestic partnership. He actively participates in the operation of the partnership. He pays for his family health coverage.

Can he deduct the health premiums as an above the line deduction on 1040 page 1?

[David1980]

Sure, assuming he meets all the qualifications (not eligible to participate in spouse's employer health insurance for example.) Same stuff as-if he were a Sch C business.

[veritas]

True

as long as the partnership paid the premiums and it was handled properly on the partnership return.

[NotEasy]

as long as the partnership paid the premiums and it was handled properly on the partnership return.

Thank you.

He paid for his own health premiums. It is not done through the partnership. I think it is not deductible in that way. No luck.

[S T]

Would it not be a deduction for the General Parther on his own Form 1040 - above the line deduction, page 1, if the partnership did not pay?? The General Partner would be self employed and could deduct on their own Individual Return form 1040 - SE health Ins Premium

There is a reference to this at Page 28 Form 1040 - Line 29 - net earnings from partnership might be the "key"
http://www.irs.gov/pub/irs-pdf/i1040.pdf See colum 2 and column 3

I always understood if Partnership paid the premiums it would be reflected on the K-1 as guaranteed payments.

Sandy

[NotEasy]

Would it not be a deduction for the General Parther on his own Form 1040 - above the line deduction, page 1, if the partnership did not pay?? The General Partner would be self employed and could deduct on their own Individual Return form 1040 - SE health Ins Premium

There is a reference to this at Page 28 Form 1040 - Line 29 - net earnings from partnership might be the "key"
http://www.irs.gov/pub/irs-pdf/i1040.pdf See colum 2 and column 3

I always understood if Partnership paid the premiums it would be reflected on the K-1 as guaranteed payments.

Sandy

Thank you for the input.

"If you are a partner, the policy can be either in your name or in the name of the partnership. You can either pay the premiums yourself or your partnership can pay them and report them as guaranteed payments. If the policy is in your name and you pay the premiums yourself, the partnership must reimburse you and report the premiums as guaranteed payments."

Since the partnership did not reimburse him and report the premiums as guaranteed payments, I still think he is not entitled to the deduction. Please correct me if I am wrong.