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Level 2
March 17, 2021
Question

when will proseries basic be updated for the provision of the latest covid stimulus bill that exempts the first $10200 of unemployment income from federal income tax?

  • March 17, 2021
  • 3 replies
  • 13 views

The bill also makes the first $10,200 of unemployment income tax-free for households with income less than $150,000. This provision would be retroactive to tax year 2020 (the taxes you file in 2021).

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3 replies

BobKamman
Level 15
March 17, 2021
dd4vols
Intuit Community Champion
March 17, 2021

I'm just glad someone finally asked this question...😂🤣😂

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Just-Lisa-Now-
Intuit Community Champion
March 17, 2021

Ive just been using the instructions from IRS and manually making the adjustments...returns that also contain marketplace insurance with APTC I'll be waiting for an update, Im not quite sure how this plays into MAGI for the PTC calculation.

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪