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This article applies to:

  • Product: UltraTax CS
  • Return type: 1040 Individual

Exclude Notice 2014-7 payments included in box 1 of Form W-2

Follow these steps to exclude payments in box 1 of Form W-2 as described in Notice 2014-7.
  1. Enter form W-2 information on the
    W2
     screen.
  2. Go to the
    Income
     screen in the Income folder. Open the
    Other income
     statement window.
  3. Enter the amount of excludable payments as described in Notice 2014-7 as a negative amount in the Amount column. Don't select a
    Federal Code
    . Enter
    2
     in the SE Inc? column.
    note
    Medicare waiver payments transfer to Schedule 1, line 8s.
  4. Enter
    NOTICE 2014-7
     in the Description column.
    note
    The Modernized e-File (MeF) program needs the specific text description
    NOTICE 2014-7
     to identify excludable income.

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