Isn't the first $10,200 of my unemployment benefits non taxable?

[SweetieJean]

That bill has not yet been signed into law. Once it is, the IRS must develop procedures to implement it.  Stay tuned.

[Anonymous]

No, not just yet.  It will be the law soon, but it will be a few weeks (or months) before you will be able to file a tax return that reflects the upcoming change in the law. 

[Lore1c]

Has Turbo Tax updated their software to be able to reduce the 10,200?  Or do we just reduce the amount from the 1099G? 

[DoninGA]

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@Lore1c wrote:

Has Turbo Tax updated their software to be able to reduce the 10,200?  Or do we just reduce the amount from the 1099G? 

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See this TurboTax support FAQ for information for the unemployment compensation exclusion - https://ttlc.intuit.com/community/tax-topics/help/how-do-i-claim-the-new-unemployment-benefits-in-tu...

Also see this IRS statement - https://www.irs.gov/newsroom/irs-statement-american-rescue-plan-act-of-2021