Form 8986

LafGuy3377 · ‎March 10, 2024

My S-Corp received a Form 8986 from a partnership. The 8986 has information resulting from ERC credits the partnership received for calendar years 2020 and 2021. I do see anywhere on TurboTax Business 2023 where the information on 8986 can be entered. Given the number of entities that received ERC credits I am surprised that that Intuit has not addressed this situation.

DaveF1006 · ‎March 13, 2024

An ERC is filed on a 941 X, which is a standalone form that is filed separately and not from a tax return. it needs to be printed and mailed by April 15. Here are a couple of IRS sources for you to review, including a pdf form you can download, fill out, and mail. Turbo Tax Business does not support a 941 X.

Copy of 941 X

IRS Instructions for 941 X.

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