SCorp - Form 8941...credit for small employer health ins

[AZ-Tax]

One member/employee LLC, gross W-2 wage of $9517 and LLC paid for entire member health insurance premium. I could not locate anywhere to enter the health ins premium of $2300. In 2009 I believe I entered it on Ln 19.

8941 worksheet colum b Employee Hours of Service....do they want hours for the entire year or what? 8hr X 52 wks = 461 hrs I get a black $350 on Ln 12 of form 8941 but then it flows to Ln 18 of form 1120s and becomes a $- 350 (negative number).

[veritas]

From TTB

page 30-13

Additional requirements. A sole proprietor, partner, more than
2% S corporation shareholder, and more than five percent owner
in any other business are not considered employees for purposes
of the credit.

[ChEAr$]

One member/employee LLC, gross W-2 wage of $9517 and LLC paid for entire member health insurance premium. I could not locate anywhere to enter the health ins premium of $2300. In 2009 I believe I entered it on Ln 19.

8941 worksheet colum b Employee Hours of Service....do they want hours for the entire year or what? 8hr X 52 wks = 461 hrs I get a black $350 on Ln 12 of form 8941 but then it flows to Ln 18 of form 1120s and becomes a $- 350 (negative number).

Why is 1120S in you subject line? A one member LLC files a schedule c. and does NOT get a W2 form.
The amount paid for health insurance would of course qualify for the adjustment on page1.

[AJsTax]

If it is a S-corp

with the owner as the only employee there is no health insurance credit allowed.
The amount paid for health insurance must be added to the line 1 of the W-2 and then is expensed as wages expense for the S-corp.
Then the owner of the S-corp takes the health insurance adjustment to income for self employed on the front of the 1040.