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Today's update for UI exclusion

sjrcpa
Level 15

So the exclusion seems to work on the federal return. But I have a banner at the top of the 1040 that says: 

Final form without watermarks is expected to be released on or after February 14, 2019.

For MD the date is February 23, 2019.

For VA, March 06, 2018.

I'm not getting warm fuzzies.


ex-AllStar
Labels (1)
4 Replies 4
rbynaker
Level 11

LOL.  They're just gearing up for when Congress retroactively dismantles the TCJA back to 2018.

Let's do the time warp again.

TaxGuyBill
Level 14

ProSeries does not have it yet.  Have you had a chance to check if the UI exclusion is NOT affecting some MAGI calculations, such as how much Social Security is taxable?

0 Cheers
sjrcpa
Level 15

No I did not go that far. I entered $17K unemployment for a person well below $150K income and saw that $10,200 was subtracted. I stopped when I saw those dates.


ex-AllStar
0 Cheers
TaxGuyBill
Level 14

Thanks.

It is those amendments for things that use MAGI that don't use the $10,200 exclusion that worry me.  Historically, Intuit only does things when there is a worksheet from the IRS.  The IRS has provided the worksheet to exclude income tax on the $10,200, but not update worksheets for those MAGI things, so I can just picture Intuit ignoring those, which would screw things up even more.