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Get your taxes done using TurboTax
I am sure Turbo Tax will include $10,200 exemption in one of their updates as soon as IRS passes the new guidance to them. I am pretty sure this will not take months as someone here speculated. Why? This ruling is straightforward. It does not exclude any group of people, has no special situations attached. Could be just one sentence - "exclude first $10,200 from taxation of unemployment compensation" . No way something that simple would take weeks or months. I have my taxes ready to file but will wait till Intuit updates the software.
March 8, 2021
7:21 PM