There is currently no information on when the IRS will issue instructions on exempting 2020 unemployment compensation from federal tax.
As soon as the IRS issues instructions on how to report newly-exempt 2020 unemployment payments, TurboTax will make the necessary updates to its programs. Until those changes are made, you have two options:
1. File now and amend your return later, after updates have been made.
2. File after IRS instructions are released and the programs have been updated.
From How will the third stimulus impact me?:
"We’re working hard to keep TurboTax up to date with the latest tax changes based on instructions we receive from the IRS. Check back soon to add your unemployment income and file your return."
