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how to excludable income reported on W2 under IRS Code Section 131 per Notice 2014-7:

Mellw
Level 1

How do I exclude the income in Proseries 2023?

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6 Comments 6
Accountant-Man
Level 13

Personally, I have no idea about either Sec. 131 nor Notice 2014-7. I have only worked in tax for 41 years, so I don't remember EVERYTHING.

It would be very helpful for those of us who are NOT Codeheads that you give us a clue in your post. Just so we don't have to go look it up.

 

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abctax55
Level 15

Simply entering 2014-7 in the search bar get you the following:

https://accountants.intuit.com/support/en-us/help-search?advanced=false&allow_punctuation=false&filt...

"*******Tax software is no substitute for a professional tax preparer*******
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Just-Lisa-Now-
Level 15
Level 15

Scroll down down down the W2 worksheet, theres a spot for it.


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Mellw
Level 1

I scrolled down and I do not see a spot. Do you know where exactly that would be?

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Mellw
Level 1

Hi Sorry about that.

I have a client who takes care of her mother and receives payments thru state Medicaid Home program on a W2 form with just the income reflected and no taxes taken out because the income itself is exempt from taxes. In Proseries I can't figure out how exempt the amount from the taxable income.

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Terry53029
Level 14
Level 14

On the W2 worksheet it is in part VI " Medicare waiver payments" line Ka, and b