Unemployment voting

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  • BOB W
    Senior Member
    • Jun 2005
    • 4061

    #46
    In 2009 there was a line where you just added the excess over $2400 of UI. I can't imagine a redo of page 1 of 1040 at this late date for a one time adjustment.
    This post is for discussion purposes only and should be verified with other sources before actual use.

    Many times I post additional info on the post, Click on "message board" for updated content.

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    • BOB W
      Senior Member
      • Jun 2005
      • 4061

      #47
      Originally posted by ToledoEd
      Another question, does the 10200 unemployment offset affect the gross income for EITC?
      All you questions will probably have NO conditions. AGI will be what it is for all other calculations..........
      This post is for discussion purposes only and should be verified with other sources before actual use.

      Many times I post additional info on the post, Click on "message board" for updated content.

      Comment

      • New York Enrolled Agent
        Senior Member
        • Nov 2006
        • 1532

        #48
        FWIW - The IRS posted FAQs - FAQs are not official guidance so take as you wish

        New Exclusion of up to $10,200 of Unemployment Compensation | Internal Revenue Service (irs.gov)

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        • Rapid Robert
          Senior Member
          • Oct 2015
          • 1983

          #49
          Originally posted by New York Enrolled Agent
          FWIW - The IRS posted FAQs - FAQs are not official guidance so take as you wish
          Previously noted in a different thread as well.
          https://forum.thetaxbook.com/forum/d...119#post305119

          While the instructions may work for paper filers, your tax software undoubtedly will not yet provide the correct notation for Schedule 1 Line 8, so still need to wait if efiling. And as others have mentioned, the state tax return may need an adjustment as well, to either duplicate or undo the federal change.
          "You said it, they'll never know the difference. Come on, we'll paint our way out!" - Moe Howard
          "That's enough! When you didn't know what you were talking about, you really had something! [to Curly]" -Moe Howard

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          • BP.
            Senior Member
            • Oct 2005
            • 1750

            #50
            Originally posted by Lion
            Is the $150,000 threshold with or without the UI benefits?
            Originally posted by ValRose
            You include the WHOLE UI to determine if the taxpayer has less than $150,000
            Originally posted by Anarchrist
            if the taxpayer's income, including UI, is $150K or above, not over $150K, they get no UI reversal. It is cut & dry.
            It looks like the form update for today, 24 March, specifically says the UC benefits are not included in determining the modified AGI for this.

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            • Anarchrist
              Senior Member
              • Oct 2006
              • 353

              #51
              It looks like the form update for today, 24 March, specifically says the UC benefits are not included in determining the modified AGI for this.
              Yes, the irs changed it's position yesterday. https://www.currentfederaltaxdevelop...t-compensation

              "Taxation is the price we pay for failing to build a civilized society." ~ Mark Skousen

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