amended
I entered the one change to my W-2 and then there was a auto change by turbo tax to schedule 1 line 8 other income. UCE for -10,200. What is UCE?
I entered the one change to my W-2 and then there was a auto change by turbo tax to schedule 1 line 8 other income. UCE for -10,200. What is UCE?
UEC -10,200 on line 8 of Schedule 1 is the adjustment for unemployment. If your modified adjusted gross income (MAGI) is less than $150,000, then you can exclude up to $10,200 of unemployment compensation paid in 2020 from your taxable income because of the American Rescue Plan. This will be entered on line 8 of Schedule 1. Amounts over $10,200 for each individual are still taxable.
Please see IRS to recalculate taxes on unemployment benefits; refunds to start in May and Why can't I amend my return? for additional information.
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