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I have a return with a single taxpayer with an AGI of $82000. Today's update excluded his $8200 of unemployment income.

roriggs
Level 2

I thought the exclusion was only available to couples with less than $150,000 AGI and individuals with less than $75,000 AGI.

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9 Comments 9
Camp1040
Level 11

$150,000 Across the board....less thinking, more reading.

Keet
Level 2

From what I see do not like solution or if works properly.  calculation of MAGI and AGI removes the  

$10,200 for all calculation, however, for taxable amount of social security it does not reduce the amount for the 10,200.   

Old and disabled hurt again

0 Cheers
TaxGuyBill
Level 15

@Keet wrote:

calculation of MAGI and AGI removes the 10,200 for all calculation, however, for taxable amount of social security it does not reduce the amount for the 10,200.   


There are 7 MAGI calculations (including taxable Social Security) that use the FULL amount Unemployment.  The $10,200 exclusion does not affect those calculations.

BobKamman
Level 15

Wouldn't you get the same result -- 85% taxable -- even if you reduced the AGI by the $8,200 when doing the Social Security calculation?

sjrcpa
Level 15

Every once in a while there is a low income person who gets taxed on less than 85% of their SS.

The more I know, the more I don't know.
BobKamman
Level 15

I don't consider $82,000 AGI a low income.  

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sjrcpa
Level 15

I missed that in the subject line.

The more I know, the more I don't know.
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TaxGuyBill
Level 15

The comment about Social Security was from an add-on person, not the original poster.

So the question and answer about Social Security has nothing to do with the original question about the $150,000 limit or the AGI of $82,000.

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rbynaker
Level 13

@TaxGuyBill wrote:

The comment about Social Security was from an add-on person, not the original poster.

So the question and answer about Social Security has nothing to do with the original question about the $150,000 limit or the AGI of $82,000.


Welcome to the Internet.  It seems like 90% of the posts on the TTB forum get derailed like this in some way.  It's much less common to find it here.  Most people here just start a new post with the same question as the 37 posts before it.