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Level 2
March 16, 2021
Question

unemployment exclusion

  • March 16, 2021
  • 3 replies
  • 35 views

In ProSeries basic how or where do you enter unemployment exclusion?

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3 replies

BobKamman
Level 15
March 16, 2021
Level 4
March 16, 2021

Hi Bob,

When I enter the negative on schedule 1 line 8, it give me an error message as I am entering as an over ride.  How do I enter the amount, not as an override, so no error message.

Level 3
March 16, 2021

Unemployment compensation is usually entered on form 1099-G of your software.  But beware, the IRS issued a recent bulletin indicating unemployment compensation in 2020 may be excluded from income.  Be sure to read the IRS bulletin as there is income restrictions on the taxability of the unemployment compensation.