Form 8962 line 5, TurboTax calculation error?

Forum|Forum|4 years ago
January 21, 2022
3 replies
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Best answer by rjs

No, it's not a calculation error. You answered Yes to the question that asked whether you or your spouse received or were approved to receive unemployment compensation in 2021. That automatically makes Form 8962 line 5 a fixed value of 133%. It is not calculated from lines 3 and 4.

rjs

Answer

Level 15

mles12Author

Level 2

Thank You! Nowhere (that I could find) in IRS instructions is that explained.

rjs

Level 15

IRS 2021 Instructions for Form 8962, page 8, second paragraph under "Line 5" at the top left.

"If you, or your spouse (if filing a joint return), received, or were approved to receive, unemployment compensation for any week beginning during 2021, enter 133 on line 5."

rjs

Level 15

The 133% cutoff is a provision of the American Rescue Plan Act. It applies to 2021 only.

donnahogan

Level 2

I had the same issue and I know I didn't check that unemployment box. Maybe it is a coding error on turbotax to prefill that box. Thanks for pointing out the error.