RMP
Level 1
03-12-2021
11:17 AM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
My understanding is that the first 10,500 is not taxable on the federal return.
Labels
IRonMaN
Level 15
03-12-2021
12:05 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
You are going to get your clients in trouble if you are going to give them an extra $300 deduction once the forms are ready.
Slava Ukraini!
qbteachmt
Level 15
03-12-2021
01:04 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
"the first 10,500 is not taxable on the federal return"
Uh, nope.
It's not that amount and it's not a straight across computation of exclusion, either. It affects other things that also compute.
*******************************
Don't yell at us; we're volunteers
Don't yell at us; we're volunteers
