Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Question 5 of 35. Margaret is a 15% owner of an insurance agency, an S corporation. She participates in the S corporation's health insurance plan.
Question 5 of 35. Margaret is a 15% owner of an insurance agency, an S corporation. She participates in the S corporation's health insurance plan. How is information about the amount of the premiums paid on Margaret's behalf, reported to her at the end of the year? O As wages in box 1 of Form W-2, subject to medicare and social security taxes, therefore included in the wages in boxes 3 and 5 as well O As wages in box 1 of Form W-2 but not in boxes 3 and 5. O Only reported in box 12 with code DD on her Form W-2 O In box 12, Other Deductions on her Schedule K-1 (Form 1120-S) O
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started