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Retirement tax questions
TurboTax is working on updating their software to reflect American Rescue Plan effects.
If you are talking about unemployment payments. Up to $10,200 of unemployment compensation paid in 2020 will be excluded from income. Please see IRS New Exclusion of up to $10,200 of Unemployment Compensation for details.
Please see Do I need to file a federal return this year? for additional information.
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March 13, 2021
6:34 AM