Has anyone else noticed the calculation for Taxable Social Security isn't deducting the Excluded Unemployment of $10,200? Do we know when this will be updated in Lacerte? I have a couple clients who I just need this corrected to complete their return.
Lacerte's calculation is correct. The IRS guidance, as updated 03/23/2021, states that taxable Social Security should be calculated using Unemployment income without the $10,200 reduction.
https://www.irs.gov/forms-pubs/new-exclusion-of-up-to-10200-of-unemployment-compensation
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