Ernie
Level 9
03-24-2021
07:54 AM
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The rules to determine if the clients are able to exclude some/all unemployment from being taxable have changed. On the Unemployment Compensation Exclusion Worksheet they changed rule number 10 to read "Enter the amount from Schedule 1, lines 1 through 6. Don't include any amount of unemployment compensation from Schedule 1, line 7 on this line".
This means that unemployment does not count to get you 150,000 or 75,000, etc. Pro Series is not currently updated for this.
Dusty Ernie
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