How do I correctly set up Health Insurance Premium Payments for a 2% Shareholder? This company doesn’t pay a set amount every month. Sometimes they pay double or triple, then don’t pay for months at a time. I was on the phone today for over an hour with “support” and I did not get it solved. He set up accounts and made YTD entries also. They are not correct, I need to know how to delete them.
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Re: S-Corp 2% Health Insurance
Hi there, Kim.
We have a guide article that talks about setting up S-Corp Medical health premiums in QuickBooks Desktop. You might also need to manually change the amount every time the company pays for the premium. Here's the link: https://community.intuit.com/articles/1762809.
With regards to deleting the YTD entry, please refer to the steps provided on the other question you submitted. Let me link you to this thread: https://quickbooks.intuit.com/community/Employees-and-payroll/YTD-Payroll-Entry/m-p/216114.
Feel free to visit us again in the Community if you have follow-up questions.
Please note that these articles often do Not properly differentiate between Shareholder-Employee, Officer, and ">=2% shareholder-employee" for purposes of Doing this right.
When you set up the new payroll item, read the box that explains which forms, boxes, taxes, etc, are affected, to confirm you are using the right function to meet your specific needs.