pamdory
Level 8
‎03-23-2021 12:23 PM

The instructions for the AGI worksheet now excludes unemployment from AGI in determining the $150,000 limitation.

https://www.irs.gov/forms-pubs/new-exclusion-of-up-to-10200-of-unemployment-compensation

Note under Unemployment Compensation Exclusion Worksheet – Schedule 1, Line 8 that the instructions differ from the worksheet in Lacerte.

Back on hold...

UPDATE - IT LOOKS LIKE THE 03/24  UPDATE IS USING THE NEW WORKSHEET IRS MODIFIED ON 03/23.

Back to work!

IRonMaN
Level 15
‎03-23-2021 12:45 PM

Yesterday's rumor is now confirmed.


Slava Ukraini!
pamdory
Level 8
‎03-23-2021 12:55 PM

This is one of those times when it would be nice for Intuit to pop a pink or blue banner at the top of the client list to alert people to an upcoming change...

IRonMaN
Level 15
‎03-23-2021 12:58 PM

Yeah, but there are only about a couple dozen of us that actually pay any attention to the alerts.

As a side note, when is Intuit going to have the software updated for the revision? 

IRonMaN_0-1616522296504.png

 

 


Slava Ukraini!
pamdory
Level 8
‎03-23-2021 01:15 PM

🤣

And when will our colleagues running Drake start telling us they just got an email about it?

qbteachmt
Level 15
‎03-23-2021 02:06 PM

When will TaxGuyBill be able to provide a new quote from Judy? That's the clock I've got ticking.

@TaxGuyBill Make sure to thank Judy, next time you "see" her.

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rbynaker
Level 14
‎03-23-2021 03:49 PM
@pamdory wrote:

🤣

And when will our colleagues running Drake start telling us they just got an email about it?

It won't be right away.  It takes Drake hours to release this information.  Sometimes it's not even until the next day. 😛

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