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New Stimulus pagkage is supposed to allow unemployment to be tax free?

peggygallo
Level 2

The new stimulus bill exempts $10,200 unemployment benefits from tax. How do we handle this on the tax return?

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5 Replies 5
IRonMaN
Level 15

2,343,444

Barber! Why didn't I think of this before? Getting paid to give out bad tax advice - need I say more? I've run with scissors for years so it is a natural fit.
tctxldy
Level 3

How do we deal with this through proseries.  Will they provide an adjustment or do we just take 10,200 off on line 8

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tctxldy
Level 3

schedule 1 line 8 that is

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IRonMaN
Level 15

Follow the instructions on the link and manually add it.  But then the question is, what do you do with your state?

Barber! Why didn't I think of this before? Getting paid to give out bad tax advice - need I say more? I've run with scissors for years so it is a natural fit.