mm1
Level 5
03-16-2021
11:44 AM
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They say they are working with the IRS but I cannot wait to see if they do actually correct the situation. Because I have clients hammering me with the question of when am I going to finish their returns and they do not want to hear "I am waiting on my professional software to fix the issue", I decided to just treat the first $10,200 as repaid as long as their income is below the $150,000 max limit for married. It shows as taxable above the $10,200 or $0 as the case may be and the word repaid appears beside the line but who cares - the bottom line is it excludes the unemployment amount received up to $10,200 or whatever amount they received if less.