bhwcpa
Level 2
03-15-2021
12:15 PM
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IRS has given guidance that you put on Other Income line as a negative number up to $10,200 of a single persons and up to $10,200 of a spouse (but no more than each received). Modified AGI has to be less than $150,000 to allow the deduction.
You are to use the code "UCE" for the description. I'll try to attach guidance here.