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Unemployment exclusion
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mmm
Level 2
08-11-2021
04:22 PM
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We've been receiving IRS notices for clients with refunds due because of unemployment income. It seems as though the IRS is allowing $20,400 excluded on a MFJ return, even if all of the unemployment was for one person. That is not how the law reads, and it is not how Lacerte is calculating the exclusion. Has anyone else seen this?
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TaxGuyBill
Level 15
08-11-2021
04:31 PM
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If you are in a Community Property State, yes, the IRS released information a ways back (at least a month, but maybe as far back as May?) that EACH spouse can exclude $10,200, even if only one spouse received unemployment.
If you are not in a Community Property State, it could be one of the many bizarre IRS things going on right now.
George4Tacks
Level 15
08-11-2021
06:07 PM
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Lacerte does have a setting for Community Property State. You may not have that setting correctly set to YES.
Answers are easy. Questions are hard!
Answers are easy. Questions are hard!
