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

 
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3 Replies

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...

 

 

 

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.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
spalmore71
Returning Member

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

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

ToddL99
Expert Alumni

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

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:

Unlock tailored help options in your account.

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