Level 1

Question

NYS unemployment exclusion

Forum|Forum|5 years ago
April 7, 2021
3 replies
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It seems that the unemployment compensation exclusion of 10,200 that was passed by the IRS has now been excluded as well on form IT 201. I haven't heard or read any update other than working with the software this evening.

Has this been excluded in New York State?

Thank you.

ProSeries Professional

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Level 5

NYS hasn't officially excluded it as of now. On IT 201 it is subtracted on line 16 but then added back in on line 19. See the box for Line 19a Smart Worksheet

Level 15

"On IT 201 it is subtracted on line 16 but then added back in on line 19. See the box for Line 19a Smart Worksheet"

Montana doesn't tax it at all, so the State form does the same thing:

Subtracts the exclusion to match to the Fed AGI.

Adds it back.

And then...

Subtracts the entire amount, to end at MT AGI.

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Level 15

Are you using the googles:

ny unemployment tax exclusion

That would keep you updated.

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Level 4

As of today, NYS is NOT excluding the 10,200 of unemployment compensation. ProSeries needs to do an update as this is not calculating correctly.

Level 5

It is computing correctly. It just isn't obvious.

IT 201 line 14 adds in UI income

line 16 subtracts it as a federal adjustment

line 19a adds it back in as a NY adjustment. See also form IT 558

Level 4

Updated today with the new coding.