Do I reduce the unemployment income by 10,000 per the last bill or will turbo tax do a soft ware update ?

 

https://ttlc.intuit.com/community/tax-topics/help/how-will-the-stimulus-package-impact-me/01/1393859#U1393859

 

 

 

You are among millions who have now been affected by a mid-tax season change in the tax law.  Patience will be necessary.

TurboTax will update the software for the unemployment but there is no timeline yet.

  If you have not e-filed yet—-wait.   And if you already e-filed and want to amend for this—WAIT.

Please let me know how to update my soft ware for the changes

Updates to the TurboTax online program are automatic. They have already been applied to account for the recent federal legislation exempting up to $10,200 of unemployment compensation fro federal tax.

 

Updates to the desktop (CD/Download) versions of the program are in progress. If you haven’t filed your 2020 taxes yet and would like to receive progress status updates, please sign up here. 

 

See the following for additional information:

• For customers who have already filed: How do I get the new unemployment benefits if I’ve already filed my taxes? 
• For customers who have not yet filed: How do I claim the new unemployment benefits in TurboTax?