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Excluding Medicaid waiver payments from income per IRS notice 2014-7

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Excluding Medicaid waiver payments from income per IRS notice 2014-7

Follow these steps to report qualified Medicaid waiver payments exlcudable under IRS Code Section 131 per notice 2014-7:

  1. Go to the Input Return tab.
  2. On the left-side menu, select Income.
  3. Click on Wages, Salaries, Tips (W-2).
  4. Enter all information as reported on the W-2.
  5. On the left-side menu, select SS Benefits, Alimony, Misc. Income(SS Bene., Misc. Inc.).
  6. Enter the excludable amount as a positive number in the Medicaid waiver payments to care provider field.

The amount you enter will print as a negative number on Form 1040 other income, with a description of "Notice 2014-7".

Related Topics

IRS Notice 2014-7Certain Medicaid Waiver Payments May Be Excludable From Income

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