nontaxable unemployment
When will the program update to not tax the first $10,200 in unemployment under the new stimulus package? Should we just use the 'repayment' option on the amount for now, or wait to file?
When will the program update to not tax the first $10,200 in unemployment under the new stimulus package? Should we just use the 'repayment' option on the amount for now, or wait to file?
No update needed, you should follow the instructions issued yesterday by IRS
https://www.irs.gov/faqs/irs-procedures/forms-publications/new-exclusion-of-up-to-10200-of-unemployment-compensation
Be sure to research how your particular state might be handling this.
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