American Rescue Plan Act makes first $10,200 of 2020 unemployment non-taxable. How to handle since ProConnect doesn't appear updated to incorporate new rule yet?

OKC-CPA · ‎03-13-2021

I hate to just subtract $10,200 from amount reported on 1099-R. Has anyone heard if there is an update coming soon, or know best way to handle?

abctax55 · ‎03-13-2021

1099-R ????

And have you looked a the dozens of threads discussing this situation?

"*******Tax software is no substitute for a professional tax preparer*******
( Generic Comment )"

OKC-CPA · ‎03-13-2021

Meant 1099-G

First page of results from my well-worded search of the community had nothing to do with my question. Probably the reason why there are dozens of strings on the subject.

American Rescue Plan Act makes first $10,200 of 2020 unemployment non-taxable. How to handle since ProConnect doesn't appear updated to incorporate new rule yet?

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