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recent update and exempt unemployment

vscpanm
Level 3

The PTC error was fixed in an update last night 05-05-21. now when I enter unemployment, they no longer show up as a reduction on schedule 1. Is this an error caused by the update? Very frustrated.

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TaxGuyBill
Level 14

@vscpanm wrote:

The PTC error was fixed in an update last night 05-05-21.

 

now when I enter unemployment, they no longer show up as a reduction on schedule 1. Is this an error caused by the update? Very frustrated.


 

Actually, they "fixed" the easy thing and completely screwed up another.  If a person is self employed and gets a PTC, the program no longer does the Iterative calculation.   It is much worse than before.

 

As for the unemployment exclusion, it is working fine on the tax return I am doing right now.  Is your client's income over the $150,000 threshold?

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TaxGuyBill
Level 14

@vscpanm wrote:

The PTC error was fixed in an update last night 05-05-21.

 

now when I enter unemployment, they no longer show up as a reduction on schedule 1. Is this an error caused by the update? Very frustrated.


 

Actually, they "fixed" the easy thing and completely screwed up another.  If a person is self employed and gets a PTC, the program no longer does the Iterative calculation.   It is much worse than before.

 

As for the unemployment exclusion, it is working fine on the tax return I am doing right now.  Is your client's income over the $150,000 threshold?

View solution in original post

vscpanm
Level 3

Hah, I hadn't thought of the income limitation. I'll have to check. I actually was manually calculating the PTC SE issue anyway because I got tired of waiting for a fix. 

 

Thanks for that taxguyBill.  

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