@Hyperbeast02 wrote:
The system still hasn’t been updated!! When will it be?? You said it would be done by the end of March and it’s now April!!
The unemployment compensation exclusion was updated across all TurboTax platforms, online and desktop, on 03/26/2021.
The exclusion is reported on Schedule 1 Line 8 as a negative number. The unemployment compensation received is on Line 7 of Schedule 1. The result flows to Form 1040 Line 8.
Using the online editions - 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.
The Premium Tax Credit adjustment was updated across all TurboTax programs, online and desktop, on 04/08/2021
Go to this IRS website for information on the PTC adjustment - https://www.irs.gov/newsroom/irs-suspends-requirement-to-repay-excess-advance-payments-of-the-2020-p...
If using the TurboTax desktop editions -
Update your software. For a Windows based PC, click on Online and Check for Updates.
The current version is 020.000.1694. Click on Help>About TurboTax>Version
