Level 1

Question

unemployment

Forum|Forum|5 years ago
March 13, 2021
6 replies
17 views

I am trying to find the message that came up earlier in the day while I was in the program and had to x out of it. It was a reference as to how to report the unemployment as non taxable in the current system - can someone tell me how to retrieve this notice or/and how to treat the unemployment

ProSeries Professional

This topic has been closed for replies.

abctax55

Level 15

There

Is

No

Way

YET

HumanKind... Be Both

IRonMaN

Level 15

That's kinda interesting since the only message that came up in my ProSeries software today related to e-signature.

Slava Ukraini!

sjrcpa

Level 15

In the last hour or so IRS just released how it is supposed to be done. They will need to update their efile and manual filing systems. Then the software needs to be updated.

https://proconnect.intuit.com/community/proseries-tax-discussions/discussion/step-1-irs-guidance-on-10-200-nontaxable-unemployment/00/140609

You misread whatever alert you saw.

The more I know the more I don’t know.

Just-Lisa-Now-

Intuit Community Champion

https://www.irs.gov/faqs/irs-procedures/forms-publications/new-exclusion-of-up-to-10200-of-unemployment-compensation?fbclid=IwAR0RthAX6sSA6dl1hVQYWe3JEZGVgx3YO9AVwQZ9TFaBt8do8lyM3EN4INw

Sch 1, Line 8 adjustment

but there was NO alert or popup in the software about it.

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

L

LilFos

Level 3

So if I read the worksheet instructions correctly.

As long as the taxpayer is under the AGI filing threshold ($75k Single and $150K MFG) all we need to do

is place the exemption amount on the Sch 1 worksheet Other Income line referenced as UCE and place as a negative number.

So if that be the case any returns not yet filed can be submitted this way?

And any returns already filed can be amended this way? (But if you are from MD one needs to wait to file that one for the MD software update on the 502SU)

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