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T
TByersTX
February 28, 2024
Question

S-Corp Health Insurance W2 Reporting

  • February 28, 2024
  • 1 reply
  • 0 views

I've called support dozens of times and chatted dozens of times, and I've found no one at Intuit that understands how to set up payroll correctly to properly report S-Corp Health Insurance payments on form W2. My company pays the premiums.  I need the owner W2 to include that amount in Box 1 with wages and also report in Box 14.  Box 3 & 5 wages are not affected. Quickbooks should not calculate and pay state or federal unemployment taxes either.  I don't need a paycheck for these premiums because the company is paying from its operating account.  I just need the amount correctly reported on form W2 without calculating any other taxes due to any other entities.  Pretty simple, but no one knows how to do that.  I use Quickbooks Online, not desktop.

1 reply

R
Rea_M
February 28, 2024

We can see the urgency of getting your W2s corrected, TByersTX. We'll route you to the next best help to realize this for you.

 

After setting up the owner's S-corp medical contribution, QuickBooks automatically tracks and determines how the payroll item appears on your W2 forms. Yes, its amount should be included in the owner's W2 Box 1 and 14. For more details, please see this article: Understanding W2 Forms.

 

The owner's S-corp medical contribution needs to be posted on paychecks even if its company paid. An adjustment for wages, tips, and compensation should be performed to correct your W2. To obtain this, we recommend contacting our Payroll Corrections team. Here's how:

 

  1. Sign in to your QuickBooks Online company.
  2. Go to Help (?).
  3. Select Contact Us.
  4. Enter your concern, then select Let's talk.
  5. Choose a way to connect: Start a chat with a support expert or Get a callback from the next available expert.

 

Furthermore, if you need to report the health insurance you offer or reimburse your employees on their W-2s, you can check out this article to guide you through the process: Report employer health insurance on W-2s.

 

Additionally, if you wish to track your S-corp contributions, you can run payroll reports in QBOP.

 

Please don't hesitate to drop by this thread again if you have other payroll concerns or questions about tracking medical contributions in QBOP. We'll ensure your needs are taken care of.

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