Level 7

Question

How can I add 2% S-corporation shareholder health insurance premiums to box 1 of the W-2 after payroll has been submittted for prior quarters?

Forum|Forum|7 years ago
December 27, 2018
4 replies
25 views

No text available

QuickBooks Online

A

Anonymous

You can add or correct information from a submitted W-2 form by filing a W-2 C form. Though, this amended form is currently unavailable in QBO. You’ll need to get a paper copy from the IRS and file it through a regular mail.

You can check this article for the detailed steps on how to prepare the form: Online Payroll: Correct or amend W-2 forms.

Visit us again anytime you have questions, or you need further assistance while working with QuickBooks.

L

ljfd

This doesn't answer the question. The question is the same as I have, using online payroll, you are unable to make any kind of edits to the figure that is populated in box 1. I need to add the amount that was paid by the business for the 2% shareholder health insurance to box 1. The w2s have not been filed yet. I think the original poster means they previously filed quarterly payroll reports but not the w2.

C

Charies_M

Level 9

Hello there, ljfd.

I can guide you through in adding the 2% S-corp health insurance to your W-2 form.

In QuickBooks Online (QBO), you'll need to set up an S-corp Insurance for it to automatically reflect on your W-2 forms.

Here's how to set up an S-corporation pay type:

Go to Workers from the left menu.
Select Employees.
Select the employee's name.
Select edit (pencil) icon beside Pay.
In section 3, select the edit (pencil) icon.
Maximize Even more ways to pay employee, then select S-Corp Owner's Insurance.
Select Done.

I've got you an article for a detailed steps on how to set up S-Corp Insurance in QBO: Set up S-Corp Owner's Health Insurance.

You can also check out this article to know more about the supported pay types and deductions in Online Payroll.

That's it. I'll be around anytime you need help with something else or further questions while working with your W-2's in QBO.

W

wkorpacz

How do I adjust W-2 and forms 940 and 941 S-Corp Owners Health Insurance Expense? I am using QB PR Online. The instructions below are no longer reflective of the latest online screens so they are hard to follow.

C

ChristineJoieR

QuickBooks Team

Thank you for choosing QuickBooks Online, @wkorpacz.

QuickBooks online updates the systems to ensure a good quality experience for our valued customers.

Since @AldrinS already give you the instruction to do the adjustments. However, you were unable to follow through because it has a difference interface on your end.

What I can recommend is to contact the payroll support team, they are the ones to guide you through screen sharing in adjusting on your forms.

In addition, I found this article that shows you how to use QuickBooks Online Payroll's year-end checklist.

Please know that I am always here to assist you if you have any further concerns or queries in the future. Enjoy your holiday!

B

BethFrisco

I have followed the directions and QBO will not allow me to submit. So all these directions work up until you try to submit a payroll with a 12/31/23 date. This is a net zero check with no tax consequences, yet it is telling me I can't do this because there "may be" tax penalties.

B

BethFrisco

Let's face it QBO has made it impossible to edit any paychecks, or create after the fact paychecks for prior years to correct ANYTHING. QBO is the only payroll providor that will not allow you to do this. QBO is not the best payroll solution.

J

JamaicaA

QuickBooks Team

Hi there, @BethFrisco.

Submitting payroll with no tax consequences is essential. I'll make sure your W-2 forms are correct at the end of the year.

Since you're still facing issues after following the steps above, contact our experts. They will help you update any paychecks. Follow the steps below:

Go to the Help icon and choose Search.
Click the Contact Us button and enter your concern.
Press Continue.

Note our operating hours so you can contact us at your convenience. For other ways to reach us, refer to this article: Contact Payroll Support.

For more tips about reporting quarterly forms, refer to this article: Set up an S-corp medical payroll item for your corporate officers.

You can share this reference to allow your employees to see and print their pay stubs online or in the Workforce mobile app: Invite your employees to QuickBooks Workforce to see pay stubs, W-2s, and more if you use QuickBooks Online Payroll.

Our experts will help you update the S-corp medical contribution properly. If you have follow-up questions about another payroll item, don't hesitate to add them below. I'll be here to help you out.

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