@Krivs
"Please provide more information on when we can expect this update. "
As was stated above, until the IRS gives us guidance on how to implement the changes to the excess PTC repayment, TurboTax cannot begin to give you an estimate of when the changes will be ready in TurboTax.
For example, the law says that the repayment of excess Premium Tax Credit is waived for 2020. You might think that this is clear, but what about the collateral issues?
Self-employed taxpayers who have to repay excess PTC can apply that to the Self-employed Health insurance deduction. Will that still be true when the taxpayer doesn't have to repay the excess PTC? Congress didn't say so the IRS has to decide. Furthermore, the Self-employed health insurance deduction and the Self-employed SEP, SIMPLE, and qualified plans deduction have peculiar interactions where the value of one affects the other. Will this change? Again, Congress does not say so the IRS has to consider all the possibilities and issued rules on how we are to proceed.
TurboTax will get the guidance from the IRS and will work as quickly as possible to implement the changes and test them.
But TurboTax is no more able to give you a estimated schedule before the release of the IRS guidance than your mechanic can give you an estimate on an unknown problem before he/she sees your car.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
