Question

TT Deluxe Unemployment update for state of Missouri

Forum|Forum|5 years ago
April 11, 2021
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When will the TT Deluxe w/state of MO be updated with the

American Rescue Plan Act of 2021 for the exclusion of up to $10,200 of unemployment compensation.

Yes, Missouri is allowing the same credit as federal for unemployment received in 2020.

Yes, Missouri will follow the American Rescue Plan Act of 2021 for the exclusion of up to $10,200 of unemployment compensation. Only those individuals that had a federal adjusted gross income of less than $150,000 qualify for the exclusion on their federal return. The same income threshold applies on the Missouri return.

Yes, you must include all income received from unemployment compensation on your Property Tax Credit Claim. See instructions below.

Form MO-PTS
- Include the taxable portion of unemployment compensation on MO-PTS, Line 1; since it is included in the Missouri Adjusted Gross Income (MO-PTS, Line 1).
- Report the exempt portion of unemployment income, not already included in MO-PTS, Line 1, on MO-PTS, Line 3.