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Deductions & credits
@vickap wrote:
(the 10.2k was excluded from unemployment for calculating Federal Tax).
Correct "federal tax" , but the American Rescue Plan act specifically requires calculating MAGI for educational credits (and 6 others) to use the MAGI before applying the unemployment exclusion.
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
‎April 30, 2021
2:57 PM