pmlovitz
Level 2

do you know when the program will be update for the change in report unemployment in MA for 2021

 

"4/2/21 - As a result of a recent state law change, taxpayers with household income not more than 200% of the federal poverty level may deduct up to $10,200 of unemployment benefits from their taxable income on their 2020 and 2021 tax returns for each eligible individual. Federal law allows a deduction of up to $10,200 if the taxpayer’s federal adjusted gross income is less than $150,000. Since the Massachusetts income threshold is different from the federal income threshold, some taxpayers may be eligible for a deduction on their federal tax return but not on their Massachusetts tax return.  **The full amount of unemployment compensation paid to the taxpayer is reported on the return (Form 1, line 8a or Form 1 NR/PY, line 10a).  A deduction under the new provision should be reported on Schedule Y, line 9 . ** Note that that full amount of the unemployment compensation received is included in the calculation of household income for the purpose of calculating eligibility. "