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Level 4
March 12, 2021
Question

How is the 10,200 Unemployment Tax Waiver handled in Proseries 1040?

  • March 12, 2021
  • 16 replies
  • 67 views

Is their going to be an update to incorporate the new tax waiver?

This topic has been closed for replies.

16 replies

Just-Lisa-Now-
Intuit Community Champion
March 12, 2021

Of course, once IRS has decided how it will be dealt with and the software companies are given instructions for what needs to be changed in the program.

https://proconnect.intuit.com/community/proseries-tax-news-updates/discussion/american-rescue-plan-unemployment-benefits/00/139713

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
Level 3
March 12, 2021

Do we have to wait for IRS guidance on the non taxable unemployment benefits?  Or program updates.  Or can we do the adjustment manually on the 1099-G form?

Just-Lisa-Now-
Intuit Community Champion
March 12, 2021
we need to wait for guidance, its going to affect AGI and MAGI and have a domino affect on some returns.
♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪