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life sharing stipend
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Elvis
New Member
yesterday
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where is life sharing stipend entered in lacerte, if at all?
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2 Comments 2
George4Tacks
Level 15
yesterday
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Qualified Medicaid waiver payments excludable under IRS Code Section 131 per Notice 2014-7 is what I think you are referring to. You can enter it as Miscellaneous Income and then enter the same amount as a negative as (IRC 131 per Notice 2014-7) to zero out the income. OR if you are sure it is excludible and not reported on W-2, just do nothing.
Answers are easy. Questions are hard!
TaxGuyBill
Level 15
yesterday
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If you are referring to Medicaid Waiver program payments, you have the OPTION to apply that as earned income for purposes of the Earned Income Credit and the Additional Child Tax Credit. If you do that, you will want to enter it differently than what George had mentioned.
Unfortunately, I don't know how to do that in Lacerte (I use ProSeries).
