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Get your taxes done using TurboTax
@john-c-brenner-g wrote:
Yes I am using the online edition. I entered my wife's unemployment compensation, my understanding is that with the tax changes 10, 500 of the compensation was tax free. Or at least I would get an additional 10, 500 credit. Neither of these things have happened in the online edition.
If you are filing as Married Filing Jointly, then your 2020 AGI must be less than $150,000. If it is less than $150,000 then the unemployment compensation received, up to $10,200, will be excluded from income on the 2020 tax return.
You can see this exclusion on Schedule 1 Line 8 as a negative number.
Click on Tax Tools on the left side of the screen. Click on Tools. Click on View Tax Summary. Click on Preview my 1040 on the left side of the screen.
March 25, 2021
12:21 PM