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 Sc1041 Form 2019

2019-2025 Form

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Video instructions and help with filling out and completing Sc1041 Form

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Instructions and help about Sc1041 Form

all right for this video we want to go over a sample form 7206 which is the self-employed health insurance deduction and in this example we're going to look at a taxpayer here John Q taxpayer we've got his full 1040 here and John is a shareholder in an S corporation which pays for his health insurance premium so we're going to see how the 726 reporting is a little different for escor shareholders so we've got the 7206 we've also got John's form W2 for the year and then we've also got one slide here covering some background on the 7206 and then more details on the fact pattern so the 7206 form is included with your form 1040 and it's used to calculate how much of a tax deduction you can claim for your self-employed health insurance premiums now the deduction is going to be limited generally to the net earnings from your self self employment connected with that Trader business now escorp shareholders is a little different ri

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