Christian Posted May 17, 2021 Report Share Posted May 17, 2021 In an entry I was involved in the question arose as to whether the unemployment benefits on a mfs return are included on a client return when both clients income exceeds $75,000. According to a response I got the cliff is $150,000 and applies to both clients so in this case the husband does not need to include the benefits in his mfs income. I have not had time to check this out but would appreciate any input on this. Quote Link to comment Share on other sites More sharing options...
Terry D EA Posted May 18, 2021 Report Share Posted May 18, 2021 It is strange the same rules apply to MFS and MFJ. I would definitely report the husband's unemployment compensation and let the program calculate the exclusion. Not sure what software you're using. 1 Quote Link to comment Share on other sites More sharing options...
Slippery Pencil Posted May 18, 2021 Report Share Posted May 18, 2021 The cliff is $150K for all filing statuses. The income needs to be included on the return. The exclusion will be subtracted out separately. 1 Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.