Re: Is turbotax software set up to account for the first 10200.00 of unemployment benefits that are now non taxable?

Is turbotax software set up to account for the first 10200.00 of unemployment benefits that are now non taxable?

I don't know if I should be waiting for a new 1099-G or if turbotax is automatically doing that?

posted

TurboTax Online has been updated to exclude the first $10,200 of unemployment benefits from your taxable income. (The CD/Download TurboTax software has not yet been updated for this.)

You will not get a new 1099-G. The exclusion is taken care of on your tax return, not on the 1099-G. The 1099-G still shows the full amount that you received.