The PTC error was fixed in an update last night 05-05-21. now when I enter unemployment, they no longer show up as a reduction on schedule 1. Is this an error caused by the update? Very frustrated.
Best Answer Click here
This discussion has been locked. No new contributions can be made. You may start a new discussion here
@vscpanm wrote:
The PTC error was fixed in an update last night 05-05-21.
now when I enter unemployment, they no longer show up as a reduction on schedule 1. Is this an error caused by the update? Very frustrated.
Actually, they "fixed" the easy thing and completely screwed up another. If a person is self employed and gets a PTC, the program no longer does the Iterative calculation. It is much worse than before.
As for the unemployment exclusion, it is working fine on the tax return I am doing right now. Is your client's income over the $150,000 threshold?
@vscpanm wrote:
The PTC error was fixed in an update last night 05-05-21.
now when I enter unemployment, they no longer show up as a reduction on schedule 1. Is this an error caused by the update? Very frustrated.
Actually, they "fixed" the easy thing and completely screwed up another. If a person is self employed and gets a PTC, the program no longer does the Iterative calculation. It is much worse than before.
As for the unemployment exclusion, it is working fine on the tax return I am doing right now. Is your client's income over the $150,000 threshold?
Hah, I hadn't thought of the income limitation. I'll have to check. I actually was manually calculating the PTC SE issue anyway because I got tired of waiting for a fix.
Thanks for that taxguyBill.
You have clicked a link to a site outside of the Intuit Accountants Community. By clicking "Continue", you will leave the community and be taken to that site instead.