mattgutz
Level 3
04-02-2021
11:55 AM
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It is increasing the amount by the untaxable portion of Unemployment Compensation. I am reading that this should not be the case. What am I missing? Please Help!!
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TylorValdez1
Employee
04-02-2021
12:03 PM
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See the following article.
The following deductions and exclusions are still calculated using the full unemployment compensation your client received:
- Taxable social security benefits
- IRA deduction
- Student loan interest deduction
- Tuition and fees deduction (Form 8917)
- Deduction of up to $25,000 for active participation in a passive rental real estate activity (Form 8582)
- Exclusion of interest from certain bonds (Form 8815)
- Exclusion of employer-provided adoption benefits (Form 8839)
BobKamman
Level 15
04-02-2021
12:22 PM
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Where are you reading?
mattgutz
Level 3
04-03-2021
01:45 AM
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Thank you TylorValdez1!