Can long-term Care Insurance be deducted by S-Corp?

Comments

1. Hank Roitman, EA says:

   April 24, 2010 at 11:27 am

   If we are talking about a greater than 2% owner, then LTC gets the same treatment as Health Insurance.

   It is not deducted by the S-Corp as an expense. Instead, it is deducted on the >2% S/holder’s form 1040 as an adjustment to income. The deduction for S/E health insurance and/or LTC is limited to the S/holder’s compensation forom the S-corp.