ogate448
Level 1
‎03-13-2021 11:33 AM

I read that part of the COVID relief package included an tax exemption on unemployment benefits up to $10,200 Single; $20,400 MFJ.  I just want to confirm that and also ask if ProSeries for 2020 is going to be updated to reflect that change?

0 Cheers
garman22
Level 13
Level 13
‎03-13-2021 12:11 PM

It will update once IRS updates their system and then software companies can do their thing. 

I think the Magic 8-ball will give you same answer as we can re: as to when.😁

MFJ will NOT $20,400 unless both spouse were collecting. 

0 Cheers
qbteachmt
Level 15
‎03-13-2021 01:41 PM

"$20,400 MFJ"

Let's restate this as, "$10,200 each person who collected UI, for MFJ" because if one collected only $8,000 there is no shifting the difference to the other person against their UI collected.

*******************************
"Level Up" is a gaming function, not a real life function.