Yes. You may want to wait to file. The American Rescue Plan Act recently passed allows exclusion of $10,200 of income from unemployment for households with income less than $150,000. We’re working quickly to get TurboTax updated, expect the federal portion of the unemployment exclusion to be released late 3/19. Because this act was passed so recently, we are still updating changes for each state, therefore the states won’t be updated with this federal release. If you are able to wait, this may save you from having to amend your state tax return if Maryland accepts the Federal changes.
