@sealevel wrote:
So if you haven’t filed yet and your unemployment benefits meet the tax exemption requirements would you just exclude entering the 1099-G? Or is it better to wait until more information is released?
You will need to wait until the IRS issues guidance on how to proceed. Hopefully this will be in the next few weeks.
After the legislation has passed Congress and after the President has signed the legislation and after the IRS has written the rules, regulations and procedures. And after the IRS has changed any forms or schedules to accept the tax code changes. And after the IRS has approved the changes in the TurboTax program that apply to the tax code changes, then it will be available for the users of the tax preparation software.
This can take anywhere from several weeks to several months before it becomes available.
See this TurboTax support FAQ for information on the American Rescue Plan - https://ttlc.intuit.com/community/tax-topics/help/how-will-the-stimulus-package-impact-me/00/1393859
