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## Unemployment Compensation Exemption

Level 4

My single taxpayer only had \$30,000 of w-2 wages. \$10 of interest and \$13,000 of unemployment benefits. Total income of 43,010. Can we exclude \$10,200 of unemployment benefits from tax.

After working through the 'Unemployment Compensation Exclusion Worksheet" the answer is he has -0- unemployment benefits to exclude.

I thought the correct answer was going to be \$10,200 of unemployment benefits to exclude??

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• ### ProSeries Professional

5 Replies 5
Level 15

You were told the worksheet isn't in the programs yet:

https://proconnect.intuit.com/community/proseries-tax-discussions/discussion/when-will-proseries-upd...

You don't have to Keep Asking your peers every time for the same issue. Everyone here also is watching for updates, so no one knows more than you do until Intuit makes their announcements.

*******************************
"Level Up" is a gaming function, not a real life function.
Level 8
 1040 Line 1 25000 Line 2b 3000 Line 3b 2000 Line 4b 1000 Line 5b 100 Line 6B 1635 Line 7 36 Line1 Total 1-7 add sched 1-7also 32771 Line2 Schedule 1 line 8 0 Line3 Add Line1 & 2 32771 1040 Line 10b 300 Schedule 1 Line 10 250 Line 11 Line 12 Line 13 Line 14 Line 15 Line 16 Line 17 Lie 18a Line 19 Line 20 1150 Line 21 Line 4 Total 1700 Line 5 Subtract Line 4 from 3 31071 Line 6 If Line 5 = \$150,000 or more  Stop - No exclusion If Line 5 = less than \$150,000 go to line 7 Line 7 Unemployment compensation paid not to exceed \$10,200 10200 Line 8 Unemployment compensation paid to spouse not to exceed \$10,200 Line 9 Add Line 7 & 8 10200 Line 10 Subtract Line 9 from line 2 and enter amount on Schedule 1 line 8 -10200

Line 2 (Schedule 1 Line ðŸ˜Ž should not include the excluded amount only what would normally go there...things like other income, gambling winnings etc..  I made the same mistake the first time running through it.

Sample numbers included and it messed up the table when converted sorry.

Level 4

So in my example is the exemption amount 10,200?

Level 11

Hey 'Bama,

https://www.irs.gov/faqs/irs-procedures/forms-publications/new-exclusion-of-up-to-10200-of-unemploym...

1. Enter the total of lines 1 through 7 of Form 1040 and Schedule 1, lines 1 through 7.

So that Schedule C with \$150K of income might disqualify you. ðŸ™‚

Rick

Level 8

You are correct it is not on that spreadsheet.  Don't know what happened but you are right.  Swear it was there last night after three beers and 12 hours sitting at the desk.

ðŸ¤£

Good catch.