corporation status

[TAX4US]

Did rule change that more than 5% owner shareholder on health insurance owed Fica and Med on this amount. I knew we had to put it in wages on W-2. to get it to come off front of 1040.?????

[ChEAr$]

Did rule change that more than 5% owner shareholder on health insurance owed Fica and Med on this amount. I knew we had to put it in wages on W-2. to get it to come off front of 1040.?????

The rules haven't changed. Box one all that's applicable.

[MichaelG]

I assume you are talking about an S corp, not a C Corp. And the threshold is 2%, not 5%.

[TAX4US]

yes an S corp and a more than 2% owner. My fault fingers were not thinking like brain. I read on another board that these persons health insurance was subject to Fica and MC. Scared me So I thought I would ask and review.

[Burke]

Well, you now know which board to come to for the correct answer!