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JP21
New Member

What does it mean by PY 8941 No Box while I do the REVIEW?

While I'm doing the RE
VIEW, it says Form 8941-T: Prior Yr 8941 must be entered.  And then a check box with PY 8941 No Box is displaying.  What should I do?  I don't think I have from 8941 in 2017.
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9 Replies

What does it mean by PY 8941 No Box while I do the REVIEW?

Did you look at the form ?   https://www.irs.gov/pub/irs-prior/f8941--2018.pdf

It has to do with Credit for Small Employer Health Insurance Premiums ... did you enter any employee health insurance premiums on the Sch C ?  

JP21
New Member

What does it mean by PY 8941 No Box while I do the REVIEW?

No.  I didn't pay any health insurance premiums in 2017.  
JP21
New Member

What does it mean by PY 8941 No Box while I do the REVIEW?

I paid the health care sharing ministry as exempt to the health insurance.  I don't think those payments count as health insurance premiums.  is it right?  Thanks.

What does it mean by PY 8941 No Box while I do the REVIEW?

Ok ... review the entire return especially the Sch C ... you made a data entry error somewhere ... you may even upgrade to LIVE so you can get some one on one help.

What does it mean by PY 8941 No Box while I do the REVIEW?

Hi Critter, I like your advice because you're almost "teaching me to fish." 

 

The scenario is like this: turbo tax is walking me through a review, it then says something strange like "form xyz" enter answer there.  

 

So I think you'd suggest, "google that form and look for the box in the form," and then you'll better know what to enter in.

 

Those are my words Critter.  If you have better ones, lay your wisdom on us.

What does it mean by PY 8941 No Box while I do the REVIEW?

It's too bad TurboTax software doesn't "frame up" the question by showing the form.  I've always found the review awkward leading me to make guesses.

wrl1232
New Member

What does it mean by PY 8941 No Box while I do the REVIEW?

How do I fix it

wrl1232
New Member

What does it mean by PY 8941 No Box while I do the REVIEW?

I’m not showing a schedule c

DawnC
Expert Alumni

What does it mean by PY 8941 No Box while I do the REVIEW?

It could have been on a prior year Schedule C, F, or E.  The Small Business Health Insurance Premium Credit could have come from a K-1 or a cooperative also.   You can search for 8941 and use the Jump to 8941 link to be taken to those questions in TurboTax.   

 

Small business owners who subsidize the cost of employee health insurance premiums may be able to get some of that money back by claiming the credit for small employer health insurance premiums on their taxes.  Some of the eligibility requirements, however, limit the number of people a business can employ and the average annual wages they earn.  Qualifying as a small employer can reduce your tax bill by the amount of the credit you report on Form 8941.

 

@wrl1232

 

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