@cameronschu
At this time, we are waiting for information from the IRS on how to handle the $10,200 unemployment. Once the IRS provides additional guidance, TurboTax will be updated to reflect these new tax laws relating to unemployment.
- If you haven’t filed your 2020 taxes yet and would like to receive progress status updates, please sign up here.
As part of the recently passed American Rescue Plan, the first $10,200 worth of unemployment payments are now tax-free for households with annual incomes less than $150,000. This expanded tax relief begins this year, starting for taxpayers filing returns after January 1, 2020.
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