We are working on updating TurboTax to account for the recent legislation. You can use the link below to sign up for an email notification when it has been completed. We do not have a scheduled date for the completion of the update, but these changes are the top priority at the moment.
As part of the recently passed American Rescue Plan, the first $10,200 worth of unemployment payments is now tax-free for a person with an annual modified adjusted gross income of less than $150,000. This expanded tax relief begins this year, starting for taxpayers filing returns after January 1, 2020. 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. @claudia174
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