Welcome back! Ask questions, get answers, and join our large community of tax professionals.
- Topics
- Training
- Community
- Product Help
- Industry Discussions
- User Groups
- Discover
- Resources
Intuit Biz e-filing closure on December 21 at 6:00PM PST. Select your product for more Hot topics. Lacerte | ProConnect | ProSeries
Intuit Biz e-filing closure on December 21 at 6:00PM PST. Select your product for more Hot topics. Lacerte | ProConnect | ProSeries
Turn on suggestions
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Showing results for
- Intuit Accountants Community
- :
- Industry Discussions
- :
- Tax Talk
- :
- Re: Michigan MI1040CR Unemployment Income
Michigan MI1040CR Unemployment Income
Options
- Mark Topic as New
- Mark Topic as Read
- Float this Topic for Current User
- Bookmark
- Subscribe
- Printer Friendly Page
grady
Level 1
03-25-2021
11:07 AM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Regarding the $10,200 unemployment tax exclusion under the American Rescue Plan....
Since Michigan works off the federal AGI, the tax benefit follows through to the MI1040 tax return.
My question is about the MI1040CR for property tax refunds....
Are we to record our full unemployment received or the amount after the $10,200 credit has been applied?
This discussion has been locked.
New comments cannot be posted on this discussion anymore. Start a
new discussion
1 Comment 1
taxdude02
Level 2
03-27-2021
06:36 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Household Resources includes the total amount of Unemployment (unreduced by the exclusion). The homestead property credit is based on the higher HR amount, which reduces the credit accordingly The software should do this automatically.
