topic TurboTax update to 2021 American Rescue Plan in Get your taxes done using TurboTax https://ttlc.intuit.com/community/taxes/discussion/turbotax-update-to-2021-american-rescue-plan/01/2065977#M743634 <P>The American Rescue Plan just passed. The TT website mentions the new stimulus checks and some other aspects of this new Act. However, it will also affect income by forgiving $10,200 in unemployment payments for each spouse and forgive paying back Advance Healthcare Tax Credits for 2020 as a result of unanticipated increases to income from unemployment benefits.</P><P>&nbsp;</P><P>Both of these affect my 2020 taxes. The current calculations in my TT account do NOT reflect the new changes in law and I haven't seen any indication on the TT website about when they will update calculations.</P><P>&nbsp;</P><P>Can SOMEONE from Turbotax please inform the customers: when will Turbotax be updated to reflect the new tax provisions in the American Rescue Plan Act? I would've thought TT had these ready to go in the event it passed.</P> Fri, 12 Mar 2021 02:08:26 GMT baluku2002 2021-03-12T02:08:26Z TurboTax update to 2021 American Rescue Plan https://ttlc.intuit.com/community/taxes/discussion/turbotax-update-to-2021-american-rescue-plan/01/2065977#M743634 <P>The American Rescue Plan just passed. The TT website mentions the new stimulus checks and some other aspects of this new Act. However, it will also affect income by forgiving $10,200 in unemployment payments for each spouse and forgive paying back Advance Healthcare Tax Credits for 2020 as a result of unanticipated increases to income from unemployment benefits.</P><P>&nbsp;</P><P>Both of these affect my 2020 taxes. The current calculations in my TT account do NOT reflect the new changes in law and I haven't seen any indication on the TT website about when they will update calculations.</P><P>&nbsp;</P><P>Can SOMEONE from Turbotax please inform the customers: when will Turbotax be updated to reflect the new tax provisions in the American Rescue Plan Act? I would've thought TT had these ready to go in the event it passed.</P> Fri, 12 Mar 2021 02:08:26 GMT https://ttlc.intuit.com/community/taxes/discussion/turbotax-update-to-2021-american-rescue-plan/01/2065977#M743634 baluku2002 2021-03-12T02:08:26Z Re: TurboTax update to 2021 American Rescue Plan https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2066003#M743643 <P class="p1">&nbsp;</P> <P class="p2"><A href="https://ttlc.intuit.com/community/tax-topics/help/how-will-the-stimulus-package-impact-me/01/1393859#U1393859" target="_blank">https://ttlc.intuit.com/community/tax-topics/help/how-will-the-stimulus-package-impact-me/01/1393859#U1393859</A></P> <P class="p1">&nbsp;</P> <P class="p1">&nbsp;</P> <P class="p1">&nbsp;</P> <P class="p2">You are among millions who have now been affected by a mid-tax season change in the tax law.<SPAN class="Apple-converted-space">&nbsp; </SPAN>Patience will be necessary.</P> <P class="p2">TurboTax will update the software for the unemployment but there is no timeline yet.</P> <P class="p3">It can take weeks to several months or more for the changes to be made to tax software.&nbsp; &nbsp;First the IRS has to change its forms.&nbsp; &nbsp;The tax software has to be changed; the IRS has to test and approve of the software.&nbsp; &nbsp;Do not expect changes in the software to happen quickly.&nbsp; &nbsp;TurboTax may have more information in the near future AFTER the bill is signed into law, and some more details emerge about how Congress and the IRS will implement the changes.</P> Fri, 12 Mar 2021 02:13:32 GMT https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2066003#M743643 xmasbaby0 2021-03-12T02:13:32Z Re: TurboTax update to 2021 American Rescue Plan https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2067596#M744187 <P>Would you advise that I just take away $10,200 from my adult sons unemployment or wait for the added IRS Tax Form?&nbsp; He currently has to pay a couple thousand in taxes but if we take out the $10,200 he actually will get a refund.&nbsp;</P> Fri, 12 Mar 2021 14:44:51 GMT https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2067596#M744187 dh2004 2021-03-12T14:44:51Z Re: TurboTax update to 2021 American Rescue Plan https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2067730#M744234 <P>I am in the same situation. Turbo Tax isn't being forthcoming in when it will&nbsp; have everything updated, if it will before or AFTER taxes are due.&nbsp;&nbsp;</P><P>&nbsp;</P><P>TURBO TAX, please inform your customers as to whether the needed changes will be done before or after the tax deadline.</P><P>&nbsp;</P><P>thank you.</P> Fri, 12 Mar 2021 15:16:36 GMT https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2067730#M744234 baluku2002 2021-03-12T15:16:36Z Re: TurboTax update to 2021 American Rescue Plan https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2067738#M744238 <P>The bill HAS been signed into law. It is in effect. Please provide some guidance as to when Intuit will likely make the necessary changes. I understand that TT needs guidance from the IRS as to how to incorporate the changes into practice, but your customers need to know whether to expect the updates to happen BEFORE or AFTER taxes are due in April.</P> Fri, 12 Mar 2021 15:18:28 GMT https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2067738#M744238 baluku2002 2021-03-12T15:18:28Z Re: TurboTax update to 2021 American Rescue Plan https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2067760#M744245 <P class="p1">&nbsp;</P> <P class="p2"><A href="https://ttlc.intuit.com/community/tax-topics/help/how-will-the-stimulus-package-impact-me/01/1393859#U1393859" target="_blank">https://ttlc.intuit.com/community/tax-topics/help/how-will-the-stimulus-package-impact-me/01/1393859#U1393859</A></P> <P class="p1">&nbsp;</P> <P class="p1">&nbsp;</P> <P class="p1">&nbsp;</P> <P class="p2">You are among millions who have now been affected by a mid-tax season change in the tax law.<SPAN class="Apple-converted-space">&nbsp; </SPAN>Patience will be necessary.</P> <P class="p2">TurboTax will update the software for the unemployment but there is no timeline yet.</P> <P class="p3">It can take weeks to several months or more for the changes to be made to tax software.&nbsp; &nbsp;First the IRS has to change its forms.&nbsp; &nbsp;The tax software has to be changed; the IRS has to test and approve of the software.&nbsp; &nbsp;Do not expect changes in the software to happen quickly.&nbsp; &nbsp;TurboTax may have more information in the near future AFTER the bill is signed into law, and some more details emerge about how Congress and the IRS will implement the changes.</P> Fri, 12 Mar 2021 15:23:25 GMT https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2067760#M744245 xmasbaby0 2021-03-12T15:23:25Z Re: TurboTax update to 2021 American Rescue Plan https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2072814#M745963 <P>Can you just reduce the amount of unemployment received by the $10,200 and let the software calculate?</P><P>Why will is take so long to get the software updated?&nbsp; Taxes are due in 5 weeks</P> Sat, 13 Mar 2021 16:06:30 GMT https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2072814#M745963 dm1979 2021-03-13T16:06:30Z Re: TurboTax update to 2021 American Rescue Plan https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2072869#M745980 <P>NO you cannot just reduce your unemployment amount.&nbsp; &nbsp;This law passed a couple of days ago.&nbsp; &nbsp;Have some patience so that the IRS can give directives and guidelines to the software companies.&nbsp; &nbsp; Do you want to file your tax return correctly the first time or spend months waiting for the IRS to process an amended return if you use "self help" and mess it up?</P> Sat, 13 Mar 2021 16:17:27 GMT https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2072869#M745980 xmasbaby0 2021-03-13T16:17:27Z Re: TurboTax update to 2021 American Rescue Plan https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2074644#M746632 <P>The IRS will not make any form changes. They have issued these instructions.</P><P><A href="https://www.irs.gov/faqs/irs-procedures/forms-publications/new-exclusion-of-up-to-10200-of-unemployment-compensation" target="_blank">New Exclusion of up to $10,200 of Unemployment Compensation | Internal Revenue Service (irs.gov)</A></P><P>&nbsp;</P><P>I have been able to enter the credit amount on Line 8 of Schedule 1 and the tax is correctly calculated. I just need to enter a description of "UCE". It is currently showing a description of Gambling Winnings. Is there an easy way to override this?</P> Sat, 13 Mar 2021 21:09:29 GMT https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2074644#M746632 Wally1600 2021-03-13T21:09:29Z Re: TurboTax update to 2021 American Rescue Plan https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2078712#M748045 <P>how did you enter this information in turbotax?</P> Sun, 14 Mar 2021 18:14:17 GMT https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2078712#M748045 staceysnope 2021-03-14T18:14:17Z Re: TurboTax update to 2021 American Rescue Plan https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2078740#M748052 <P class="p1"><A href="https://ttlc.intuit.com/community/tax-topics/help/how-will-the-stimulus-package-impact-me/01/1393859#U1393859" target="_blank">https://ttlc.intuit.com/community/tax-topics/help/how-will-the-stimulus-package-impact-me/01/1393859#U1393859</A></P> <P class="p2">&nbsp;</P> <P class="p2">&nbsp;</P> <P class="p2">&nbsp;</P> <P class="p1">You are among millions who have now been affected by a mid-tax season change in the tax law.<SPAN class="Apple-converted-space">&nbsp; </SPAN>Patience will be necessary.</P> <P class="p1">TurboTax will update the software for the unemployment but there is no timeline yet.</P> <P class="p3"><SPAN class="Apple-converted-space">&nbsp; </SPAN>If you have not e-filed yet—<FONT face="arial black,avant garde">-wait.</FONT> <SPAN class="Apple-converted-space">&nbsp; </SPAN>And if you already e-filed and want to amend for this—WAIT.</P> <P class="p4">&nbsp;</P> <P class="p4">Please read this very recent news from the IRS:</P> <P class="p4">&nbsp;</P> <P class="p3"><A href="https://www.irs.gov/newsroom/irs-statement-american-rescue-plan-act-of-2021" target="_blank">https://www.irs.gov/newsroom/irs-statement-american-rescue-plan-act-of-2021</A></P> Sun, 14 Mar 2021 18:17:33 GMT https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2078740#M748052 xmasbaby0 2021-03-14T18:17:33Z Re: TurboTax update to 2021 American Rescue Plan https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2078817#M748081 <P>Based on the IRS link you provided, there will be a new Unemployment Compensation Exclusion Worksheet that you need to fill out that will be available at some point.&nbsp; This will take the information and put it properly in line 8 of schedule 1.&nbsp; So, we need to wait for that worksheet.</P> Sun, 14 Mar 2021 18:26:27 GMT https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2078817#M748081 staceysnope 2021-03-14T18:26:27Z Re: TurboTax update to 2021 American Rescue Plan https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2078897#M748110 <P>Go to Schedule 1 Line 8 and click on the amount field. A magnifying glass will appear. Double click on this and it will take you to the workshheet for Schedule 1 Line 8. When you get to the worksheet enter -10200 on Line 22 with a description of "UCE".&nbsp; Click off the line and it should update correctly. Go back to Schedule one and you should see UCE under Line 8 with an amount of -10200.</P> Sun, 14 Mar 2021 18:36:45 GMT https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2078897#M748110 Wally1600 2021-03-14T18:36:45Z Re: TurboTax update to 2021 American Rescue Plan https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2079017#M748162 <P>I agree you need to manually complete the IRS worksheet to make sure you qualify for this exclusion. If you do this is how you can correctly enter the exclusion in Turbo Tax until they can get the programs updated. I don't plan to wait for that.</P><P>&nbsp;</P><P><SPAN>Go to Schedule 1 Line 8 and click on the amount field. A magnifying glass will appear. Double click on this and it will take you to the workshheet for Schedule 1 Line 8. When you get to the worksheet enter -10200 on Line 22 with a description of "UCE".&nbsp; Click off the line and it should update correctly. Go back to Schedule one and you should see UCE under Line 8 with an amount of -10200.</SPAN></P> Sun, 14 Mar 2021 18:53:38 GMT https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2079017#M748162 Wally1600 2021-03-14T18:53:38Z Re: TurboTax update to 2021 American Rescue Plan https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2079157#M748220 <P class="p1"><FONT size="5">Please read this very recent news from the IRS:</FONT></P> <P class="p2">&nbsp;</P> <P class="p1"><FONT size="5"><A href="https://www.irs.gov/newsroom/irs-statement-american-rescue-plan-act-of-2021" target="_blank">https://www.irs.gov/newsroom/irs-statement-american-rescue-plan-act-of-2021</A></FONT></P> Sun, 14 Mar 2021 19:10:12 GMT https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2079157#M748220 xmasbaby0 2021-03-14T19:10:12Z Re: TurboTax update to 2021 American Rescue Plan https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2079185#M748234 <P>I think this is more recent and explains how this exclusion will be handled on the forms.</P><P>&nbsp;</P><P><A href="https://www.irs.gov/faqs/irs-procedures/forms-publications/new-exclusion-of-up-to-10200-of-unemployment-compensation" target="_blank">New Exclusion of up to $10,200 of Unemployment Compensation | Internal Revenue Service (irs.gov)</A></P> Sun, 14 Mar 2021 19:14:50 GMT https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2079185#M748234 Wally1600 2021-03-14T19:14:50Z Re: TurboTax update to 2021 American Rescue Plan https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2079342#M748288 <P>How do we go to individual forms in turbotax?&nbsp;</P> Sun, 14 Mar 2021 19:36:46 GMT https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2079342#M748288 Skimoab 2021-03-14T19:36:46Z Re: TurboTax update to 2021 American Rescue Plan https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2079451#M748325 <P>Just click on Forms in upper right hand corner next to Flags and Notifications. A list of forms and worksheets will appear on the left hand side. Click on the form you wish to view.</P> Sun, 14 Mar 2021 19:53:14 GMT https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2079451#M748325 Wally1600 2021-03-14T19:53:14Z Re: TurboTax update to 2021 American Rescue Plan https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2079566#M748365 <P>Only the CD/download has Forms mode.&nbsp; &nbsp;Online TT does not have forms mode.</P> Sun, 14 Mar 2021 20:10:16 GMT https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2079566#M748365 xmasbaby0 2021-03-14T20:10:16Z Re: TurboTax update to 2021 American Rescue Plan https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2079818#M748458 <P>How do you navigate to specific forms like that? Thanks.</P> Sun, 14 Mar 2021 20:40:39 GMT https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2079818#M748458 linda sue 2021-03-14T20:40:39Z Re: TurboTax update to 2021 American Rescue Plan https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2080289#M748640 <P>I would not do this, it has to be filed properly.&nbsp; Also, you don't get $10,200, you get the taxes back that you paid on that amount - which should be about $1,200</P> Sun, 14 Mar 2021 21:54:38 GMT https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2080289#M748640 Noralla 2021-03-14T21:54:38Z Re: TurboTax update to 2021 American Rescue Plan https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2082914#M749524 <P>Can you share how you were able to access that form in order to adjust it yourself? &nbsp;I can’t figure out how to get to it, and I searched through the help topics. &nbsp;Thank you!</P> Mon, 15 Mar 2021 12:50:29 GMT https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2082914#M749524 Yse822 2021-03-15T12:50:29Z Re: TurboTax update to 2021 American Rescue Plan https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2083830#M749826 <P>you can't access forms if you are using the online version of turbo tax.</P> Mon, 15 Mar 2021 15:40:55 GMT https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2083830#M749826 staceysnope 2021-03-15T15:40:55Z Re: TurboTax update to 2021 American Rescue Plan https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2083888#M749850 <P>Do you work for Turbotax? Your answers certainly suggest that you might. Before there was ever Turbotax, plenty of people did their own taxes with their own forms: it's simply a longer, more tedious process. At this point, without more information from Turbotax as to WHEN they will make the necessary changes, I will simply make the necessary adjustments and do all my taxes on paper forms correctly. And TT will lose me as a customer.</P><P>&nbsp;</P><P>I am willing to be patient but TT needs to be forthcoming regarding when the necessary changes will be made. I am finding that its competitors: HR Block, Hewitt, etc. are providing more information on their websites.</P><P>&nbsp;</P><P>&nbsp;</P> Mon, 15 Mar 2021 15:48:23 GMT https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2083888#M749850 baluku2002 2021-03-15T15:48:23Z Re: TurboTax update to 2021 American Rescue Plan https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2083908#M749861 <BLOCKQUOTE><HR /><LI-USER uid="3743993"></LI-USER>&nbsp;wrote:<BR /> <P>Do you work for Turbotax? Your answers certainly suggest that you might. Before there was ever Turbotax, plenty of people did their own taxes with their own forms: it's simply a longer, more tedious process. At this point, without more information from Turbotax as to WHEN they will make the necessary changes, I will simply make the necessary adjustments and do all my taxes on paper forms correctly. And TT will lose me as a customer.</P> <P>&nbsp;</P> <P>I am willing to be patient but TT needs to be forthcoming regarding when the necessary changes will be made. I am finding that its competitors: HR Block, Hewitt, etc. are providing more information on their websites.</P> <P>&nbsp;</P> <P>&nbsp;</P> <HR /></BLOCKQUOTE> <P>See this TurboTax support FAQ for information for the unemployment compensation exclusion -&nbsp;<A href="https://ttlc.intuit.com/community/tax-topics/help/how-do-i-claim-the-new-unemployment-benefits-in-turbotax/00/2081055" target="_blank" rel="noopener">https://ttlc.intuit.com/community/tax-topics/help/how-do-i-claim-the-new-unemployment-benefits-in-tu...</A></P> <P>&nbsp;</P> <P><SPAN>Also see this IRS statement -&nbsp;<A href="https://www.irs.gov/newsroom/irs-statement-american-rescue-plan-act-of-2021" target="_blank" rel="noopener nofollow noopener noreferrer">https://www.irs.gov/newsroom/irs-statement-american-rescue-plan-act-of-2021</A></SPAN></P> Mon, 15 Mar 2021 15:50:50 GMT https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2083908#M749861 DoninGA 2021-03-15T15:50:50Z Re: TurboTax update to 2021 American Rescue Plan https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2085313#M750379 <P>Suggesting small change to your instructions: <SPAN>Go to Schedule 1 Line 8 and click on the amount field. A magnifying glass will appear. Double click on this and it will take you to the worksheet for Schedule 1 Line 8. When you get to the worksheet enter <STRIKE>-10200 on Line 22 with a description of "UCE"</STRIKE>.&nbsp;<STRONG>&nbsp;Scroll down to the box&nbsp;"Other Adjustments to Income Smart Worksheet."&nbsp; &nbsp;On line H, enter "UCE "&nbsp; and $10,200 as the amount. Then the $10,200 automatically appears on line 22</STRONG>. Click off the line and it should update correctly. Go back to Schedule one and you should see UCE under Line 8 with an amount of -10200.&nbsp;</SPAN></P> Mon, 15 Mar 2021 18:24:52 GMT https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2085313#M750379 RIMom1 2021-03-15T18:24:52Z Re: TurboTax update to 2021 American Rescue Plan https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2085389#M750404 <P>Maybe its best to wait a couple of weeks before filing your return.&nbsp; Wait and see what the advice is then.&nbsp;</P><P>&nbsp;</P><P>I had originally posted a method to add the $10,200 unemployment credit to your 1040, using Schedule 1, line 22.&nbsp; (directly amending Schedule 1, which you can do if you have the CD version of Turbotax which lets you work directly on the tax forms.)&nbsp;&nbsp;&nbsp;But I don't know enough about what the IRS requirements will be. So I have changed my post.&nbsp;</P> Tue, 16 Mar 2021 13:22:09 GMT https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2085389#M750404 RIMom1 2021-03-16T13:22:09Z Re: TurboTax update to 2021 American Rescue Plan https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2085408#M750410 <P>perfecto!!!&nbsp; Thank you&nbsp; Now I can finish up our Adult Son's taxes. He has autism and was laid off from his part time job last march.&nbsp; His unemployment is much more than his normal job pays by far.&nbsp; &nbsp; Thanks for suggesting:&nbsp;<SPAN>Suggesting small change to your instructions:&nbsp;</SPAN><SPAN>Go to Schedule 1 Line 8 and click on the amount field. A magnifying glass will appear. Double click on this and it will take you to the worksheet for Schedule 1 Line 8. When you get to the worksheet enter&nbsp;<SPAN>-10200 on Line 22 with a description of "UCE"</SPAN>.&nbsp;<STRONG>&nbsp;Scroll down to the box&nbsp;"Other Adjustments to Income Smart Worksheet."&nbsp; &nbsp;On line H, enter "UCE "&nbsp; and $10,200 as the amount. Then the $10,200 automatically appears on line 22</STRONG>. Click off the line and it should update correctly. Go back to Schedule one and you should see UCE under Line 8 with an amount of -10200.&nbsp;</SPAN></P> Mon, 15 Mar 2021 18:34:50 GMT https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2085408#M750410 dh2004 2021-03-15T18:34:50Z Re: TurboTax update to 2021 American Rescue Plan https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2085735#M750528 <P>What do you do if you have already e-filed your Federal Taxes?&nbsp; Do you amend them?&nbsp; Will the IRS send an update?&nbsp; Will Turbo Tax have an update to amend for this soon?</P> Mon, 15 Mar 2021 19:09:45 GMT https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2085735#M750528 MB317 2021-03-15T19:09:45Z Re: TurboTax update to 2021 American Rescue Plan https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2085767#M750543 <P>Based on the IRS Instructions here the exclusion should appear as a negative amount on Schedule 1 Line 8 with a description of UCE (see item 10 below). Based on the changes you made it doesn't display correctly on the Schedule 1 Form. Turbo Tax correctly calculates the tax, however, the IRS wants to see the exclusion on Line 8 of Schedule 1.</P><P>&nbsp;</P><P><STRONG>Unemployment Compensation Exclusion Worksheet – Schedule 1, Line 8</STRONG></P><OL><LI>Enter the total of lines 1 through 7 of Form 1040 and Schedule 1, lines 1 through 7. Include the full amount of unemployment compensation you received in 2020 on Schedule 1, line 7.</LI><LI>Use the line 8 instructions to determine the amount to include on Schedule 1, line 8 and enter here. Do not reduce this amount by the amount of unemployment compensation you may be able to exclude.</LI><LI>Add lines 1 and 2.</LI><LI>Enter the total of line 10b of Form 1040 and Schedule 1, lines 10 through 21.</LI><LI>Subtract line 4 from line 3. This is your modified adjusted gross income.</LI><LI>Is the amount on line 5 $150,000 or more?<UL><LI>[ ]Yes. Stop You can’t exclude any of your employment compensation</LI><LI>[ ]No. Go to line 7</LI></UL></LI><LI>Enter the amount of unemployment compensation paid to you in 2020. Don’t enter more than $10,200</LI><LI>If married filing jointly, enter the amount of unemployment compensation paid to your spouse in 2020. Don’t enter more than $10,200</LI><LI>Add lines 7 and 8 and enter the amount here. This is the amount of unemployment compensation excluded from your income.</LI><LI>Subtract line 9 from line 2 and enter the amount on Schedule 1, line 8. If the result is less than zero, enter it in parentheses. On the dotted line next to Schedule 1, line 8, enter “UCE” and show the amount of unemployment compensation exclusion in parentheses on the dotted line. Complete the rest of Schedule 1 and Form 1040, 1040-SR, or 1040-NR.</LI></OL> Mon, 15 Mar 2021 19:13:42 GMT https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2085767#M750543 Wally1600 2021-03-15T19:13:42Z Re: TurboTax update to 2021 American Rescue Plan https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2086087#M750674 <P>fyi, to level set expectations - the tax bill will not be going down by $10,200. Your son's income will be reduced by 10,200, so the tax reduction will roughly be $10,200 x marginal tax rate (e.g., 15%). So the tax benefit on someone with a 15% tax rate will be $1530 if they received at least $10,200 in Unemployment benefits. Hope this helps.&nbsp;</P><P>&nbsp;</P> Mon, 15 Mar 2021 19:46:46 GMT https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2086087#M750674 willhamm 2021-03-15T19:46:46Z Re: TurboTax update to 2021 American Rescue Plan https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2086487#M750836 <P>Turbo Tax won't allow anything to be entered on Schedule 1, Line 8, as far as I can see. How did you do it?</P> Mon, 15 Mar 2021 20:30:45 GMT https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2086487#M750836 RIMom1 2021-03-15T20:30:45Z Re: TurboTax update to 2021 American Rescue Plan https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2086506#M750844 <P>If you’ve already filed your 2020 return, hang tight. The IRS will provide guidance on how you can claim these additional benefits soon.</P> <P>&nbsp;</P> <P>&nbsp;</P> Mon, 15 Mar 2021 20:32:20 GMT https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2086506#M750844 gloriah5200 2021-03-15T20:32:20Z Re: TurboTax update to 2021 American Rescue Plan https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2086696#M750903 <P>The instructions provided by IRS and included above are for paper returns.&nbsp;</P> <P>&nbsp;</P> <P><SPAN style="font-size:10.0pt"><SPAN style="font-family:Arial"><SPAN style="color:#2d3338">With this new law, if your household income is less than $150,000, the first $10,200 of unemployment will be tax-free, but any amount you receive above that will be taxed. We must wait on the IRS for the way they want this to be handled.&nbsp; Please continue to use the links below to know the most up to date information. If you already filed your tax return do&nbsp;NOT&nbsp;amend at this time per IRS.&nbsp;</SPAN></SPAN></SPAN></P> <UL> <LI><A href="https://ttlc.intuit.com/community/tax-topics/help/how-do-i-claim-the-new-unemployment-benefits-in-turbotax/00/2081055" target="_blank"><SPAN style="font-size:10.0pt"><SPAN style="font-family:Arial">How do I claim the new unemployment benefits in TurboTax?</SPAN></SPAN></A></LI> <LI><A href="https://ttlc.intuit.com/community/tax-topics/help/how-do-i-get-the-new-unemployment-benefits-if-i-ve-already-filed-my-taxes/00/2081053" target="_blank"><SPAN style="font-size:10.0pt"><SPAN style="font-family:Arial">How do I get the new unemployment benefits if I already filed?</SPAN></SPAN></A></LI> <LI><A href="https://blog.turbotax.intuit.com/tax-news/american-rescue-plan-what-does-it-mean-for-you-and-a-third-stimulus-check-49041/" target="_blank"><SPAN style="font-size:10.0pt"><SPAN style="font-family:&quot;Open Sans&quot;">American Rescue Plan: What Does it Mean for You and a Third Stimulus Check</SPAN></SPAN></A></LI> <LI><A href="https://www.irs.gov/newsroom/irs-statement-american-rescue-plan-act-of-2021" target="_blank"><SPAN style="font-size:10.0pt"><SPAN style="font-family:Arial">IRS Statement-American Rescue Plan Act of 2021</SPAN></SPAN></A></LI> </UL> Mon, 15 Mar 2021 20:53:44 GMT https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2086696#M750903 DianeW777 2021-03-15T20:53:44Z Re: TurboTax update to 2021 American Rescue Plan https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2087158#M751060 <P>I believe according to other posts, you can only do this if you have the CD/Download version which is what I have purchased. I would like to file electronically and will if Turbo Tax updates their software prior to April 15th.&nbsp;</P> Mon, 15 Mar 2021 21:40:18 GMT https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2087158#M751060 Wally1600 2021-03-15T21:40:18Z Re: TurboTax update to 2021 American Rescue Plan https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2087271#M751099 <P>Both the Online and Desktop versions are being updated to reflect these changes.&nbsp; No date has been determined as to when this will be completed.&nbsp; &nbsp;You can sign up to receive notifications using the links below.&nbsp; &nbsp;You will be able to e-file.&nbsp; <LI-USER uid="3771143" login="Wally1600"></LI-USER></P> <P>&nbsp;</P> <P><A href="https://ttlc.intuit.com/community/tax-topics/help/how-do-i-get-the-new-unemployment-benefits-if-i-ve-already-filed-my-taxes/00/2081053" target="_blank">How do I get the new unemployment benefits if I’ve already filed my taxes?</A></P> <P>&nbsp;</P> <P><A href="https://ttlc.intuit.com/community/tax-topics/help/how-do-i-claim-the-new-unemployment-benefits-in-turbotax/00/2081055" target="_blank">How do I claim the new unemployment benefits in TurboTax (have not yet filed your 2020 return)?</A></P> Mon, 15 Mar 2021 21:51:50 GMT https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2087271#M751099 DawnC 2021-03-15T21:51:50Z Re: TurboTax update to 2021 American Rescue Plan https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2089320#M751951 <P><SPAN>"It can take weeks to several months or more for the changes to be made to tax software."</SPAN></P><P>&nbsp;</P><P>So with the understanding that updating TurboTax software will be a lengthy process and with the tax filing deadline quickly approaching (in about 30 days), is the recommendation, then, for everyone to file for an extension?</P> Tue, 16 Mar 2021 02:18:51 GMT https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2089320#M751951 genez220 2021-03-16T02:18:51Z Re: TurboTax update to 2021 American Rescue Plan https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2089366#M751974 <P><SPAN style="font-size:11pt"><SPAN style="font-family:Calibri,sans-serif"><SPAN style="font-size:10.0pt"><SPAN style="font-family:&quot;Open Sans&quot;,sans-serif"><SPAN style="color:#2e2e2e">If you haven’t filed your 2020 taxes yet and would like to&nbsp;receive progress status updates on the unemployment adjustment, please sign up&nbsp;</SPAN></SPAN></SPAN><A href="https://support.turbotax.intuit.com/forms/containment.jsp?fid=Rene%7C12867%7C" target="_blank"><SPAN style="font-size:10.0pt"><SPAN style="font-family:&quot;Open Sans&quot;,sans-serif"><SPAN style="color:#0363d3">here</SPAN></SPAN></SPAN></A><SPAN style="font-size:10.0pt"><SPAN style="font-family:&quot;Open Sans&quot;,sans-serif"><SPAN style="color:#2e2e2e">.&nbsp;</SPAN></SPAN></SPAN></SPAN></SPAN></P> <P>&nbsp;</P> <P><SPAN style="font-size:11pt"><SPAN style="font-family:Calibri,sans-serif"><SPAN style="font-size:10.0pt"><SPAN style="font-family:&quot;Open Sans&quot;,sans-serif"><SPAN style="color:#2e2e2e">IRS is very busy and they have to give the software companies guidance on how to make changes in their software and when it is available, and hopefully how to make it e-fileable since IRS is still processing 2019 paper returns filed last year.</SPAN></SPAN></SPAN></SPAN></SPAN></P> <P>&nbsp;</P> <P><SPAN style="color:#2e2e2e; font-family:Open Sans, sans-serif"><SPAN style="font-size:13.3333px">We recommend waiting for IRS guidance on this before filing.</SPAN></SPAN></P> Tue, 16 Mar 2021 02:31:31 GMT https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2089366#M751974 gloriah5200 2021-03-16T02:31:31Z Re: TurboTax update to 2021 American Rescue Plan https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2089624#M752056 <P>All the descriptors say if your AGI is less than $150,000 the $10,200 tax free exclusion can be applied but its not clear when filing jointly married. For this specific determination,&nbsp; is the $150,000 threshold our combined AGI or each&nbsp; individual AGI if filing jointly married?</P> Tue, 16 Mar 2021 03:31:51 GMT https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2089624#M752056 ciaoskip 2021-03-16T03:31:51Z Re: TurboTax update to 2021 American Rescue Plan https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2089651#M752064 <P>$150,000 is the total joint income on a married filing joint income tax return.</P> <P>&nbsp;</P> <P>The IRS says:</P> <P>&nbsp;</P> <P>Generally, if you are a U.S. citizen or U.S. resident alien, you are eligible for the full amount of the third Economic Impact Payment if you (and your spouse if filing a joint return) are not a dependent of another taxpayer and have a valid Social Security number (see exception when married filing jointly) and your adjusted gross income (AGI) on their tax return does not exceed:</P> <UL> <LI>$150,000 if married and filing a joint return or if filing as a qualifying widow or widower</LI> <LI>$112,500 if filing as head of household or</LI> <LI>$75,000 for eligible individuals using any other filing statuses, such as single filers and married people filing separate returns.</LI> </UL> <P>Payments will be phased out – or reduced -- above those AGI amounts. This means taxpayers will not receive a third payment if their AGI exceeds:</P> <UL> <LI>$160,000 if married and filing a joint return or if filing as a qualifying widow or widower</LI> <LI>$120,000 if filing as head of household or</LI> <LI>$80,000 for eligible individuals using other filing statuses, such as single filers and married people filing separate returns.</LI> </UL> <P>For example, a single person with no dependents and an AGI of $77,500 will normally get a $700 payment (half the full amount). A married couple with two dependents and an AGI of $155,000 will generally get a payment of $2,800 (again, half the full amount). Filers with incomes of at least $80,000 (single and married filing separately), $120,000 (head of household) and $160,000 (married filing joint and surviving spouse) will get no payment based on the law.</P> <P>&nbsp;</P> <P>Related Resource:</P> <UL> <LI><A href="https://www.irs.gov/newsroom/more-details-about-the-third-round-of-economic-impact-payments" target="_blank">Who is eligible for the third Economic Impact Payment and what incomes qualify?</A></LI> </UL> Tue, 16 Mar 2021 03:39:05 GMT https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2089651#M752064 ErnieS0 2021-03-16T03:39:05Z Re: TurboTax update to 2021 American Rescue Plan https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2091447#M752626 <P>I went to line 22 of other taxable income worksheet type in UCE&nbsp; &nbsp;use the minus sign not parenthesis&nbsp; &nbsp;-10,200 and it will show in red.&nbsp; &nbsp;I takes it to the schedule 1 and the 1040</P> Tue, 16 Mar 2021 15:37:51 GMT https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2091447#M752626 whatabigbaby 2021-03-16T15:37:51Z Re: TurboTax update to 2021 American Rescue Plan https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2091910#M752797 <P>This is great if you use the paper forms but what about turbo tax?&nbsp; Has the online been updated or still waiting?</P> Tue, 16 Mar 2021 16:37:10 GMT https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2091910#M752797 mh8279 2021-03-16T16:37:10Z Re: TurboTax update to 2021 American Rescue Plan https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2091923#M752803 <BLOCKQUOTE><HR /><LI-USER uid="3819054"></LI-USER>&nbsp;wrote:<BR /> <P>This is great if you use the paper forms but what about turbo tax?&nbsp; Has the online been updated or still waiting?</P> <HR /></BLOCKQUOTE> <P>See this TurboTax support FAQ for information for the unemployment compensation exclusion -&nbsp;<A href="https://ttlc.intuit.com/community/tax-topics/help/how-do-i-claim-the-new-unemployment-benefits-in-turbotax/00/2081055" target="_blank" rel="noopener">https://ttlc.intuit.com/community/tax-topics/help/how-do-i-claim-the-new-unemployment-benefits-in-tu...</A></P> <P>&nbsp;</P> <P><SPAN>Also see this IRS statement -&nbsp;<A href="https://www.irs.gov/newsroom/irs-statement-american-rescue-plan-act-of-2021" target="_blank" rel="noopener nofollow noopener noreferrer noopener noreferrer">https://www.irs.gov/newsroom/irs-statement-american-rescue-plan-act-of-2021</A></SPAN></P> Tue, 16 Mar 2021 16:38:41 GMT https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2091923#M752803 DoninGA 2021-03-16T16:38:41Z Re: TurboTax update to 2021 American Rescue Plan https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2092075#M752853 <P>Here is a comprehensive list of federal and state forms availability across TurboTax products.</P> <P><SPAN style="font-size:11.0pt"><SPAN style="font-family:Calibri"><A href="https://care-cdn.prodsupportsite.a.intuit.com/forms-availability/turbotax_fed_online_individual.html" target="_blank">Federal Individual Forms Availability (intuit.com)</A></SPAN></SPAN></P> <P><SPAN style="font-size:11.0pt"><SPAN style="font-family:Calibri">&nbsp;</SPAN></SPAN></P> <P><SPAN style="font-size:11.0pt"><SPAN style="font-family:Calibri">State <A href="https://care-cdn.prodsupportsite.a.intuit.com/forms-availability/turbotax_states_online_individual.html" target="_blank">https://care-cdn.prodsupportsite.a.intuit.com/forms-availability/turbotax_states_online_individual.html</A></SPAN></SPAN></P> <P><SPAN style="font-size:11.0pt"><SPAN style="font-family:Calibri">&nbsp;</SPAN></SPAN></P> <P><SPAN style="font-size:9.75pt"><SPAN style="font-family:&quot;Open Sans&quot;"><SPAN style="color:#2d3338">State forms availability table for TurboTax individual (personal) tax products</SPAN></SPAN></SPAN></P> <P><SPAN style="font-size:9.75pt"><SPAN style="font-family:&quot;Open Sans&quot;"><SPAN style="color:#2d3338">Select your situation to locate your 2020 form.</SPAN></SPAN></SPAN></P> <UL> <LI><A href="https://care-cdn.prodsupportsite.a.intuit.com/forms-availability/turbotax_states_online_individual.html" target="_blank"><SPAN style="font-size:9.75pt"><SPAN style="font-family:&quot;Open Sans&quot;">TurboTax Online/Mobile</SPAN></SPAN></A><SPAN style="font-size:9.75pt"><SPAN style="font-family:&quot;Open Sans&quot;"><SPAN style="color:#2d3338">&nbsp;(web, iOS or Android)</SPAN></SPAN></SPAN></LI> <LI><A href="https://care-cdn.prodsupportsite.a.intuit.com/forms-availability/turbotax_states_windows_individual.html" target="_blank"><SPAN style="font-size:9.75pt"><SPAN style="font-family:&quot;Open Sans&quot;">TurboTax CD/Download for Windows</SPAN></SPAN></A></LI> <LI><A href="https://care-cdn.prodsupportsite.a.intuit.com/forms-availability/turbotax_states_mac_individual.html" target="_blank"><SPAN style="font-size:9.75pt"><SPAN style="font-family:&quot;Open Sans&quot;">TurboTax CD/Download for Mac</SPAN></SPAN></A></LI> </UL> <P><SPAN style="font-size:9.75pt"><SPAN style="font-family:&quot;Open Sans&quot;"><SPAN style="color:#2d3338">Keep in mind:</SPAN></SPAN></SPAN></P> <UL> <LI><SPAN style="font-size:9.75pt"><SPAN style="font-family:&quot;Open Sans&quot;">When you locate your form or schedule, there will be dates for both Print and (depending on the state and the form) E-file availability. If the E-file form is listed as&nbsp;</SPAN></SPAN><SPAN style="font-size:9.75pt"><EM><SPAN style="font-family:&quot;Open Sans&quot;">unsupported</SPAN></EM></SPAN><SPAN style="font-size:9.75pt"><SPAN style="font-family:&quot;Open Sans&quot;">, the form must be printed and you'll need to mail your return.</SPAN></SPAN></LI> <LI><SPAN style="font-size:9.75pt"><SPAN style="font-family:&quot;Open Sans&quot;">Forms and schedules missing from the table aren't supported in TurboTax.</SPAN></SPAN></LI> </UL> <P><SPAN style="font-size:9.75pt"><SPAN style="font-family:&quot;Open Sans&quot;"><SPAN style="color:#2d3338">Related Information:</SPAN></SPAN></SPAN></P> <UL> <LI><A href="https://ttlc.intuit.com/community/forms/help/irs-forms-availability-table-for-turbotax-individual-personal-tax-products/00/26224" target="_blank"><SPAN style="font-size:9.75pt"><SPAN style="font-family:&quot;Open Sans&quot;">IRS forms availability table for TurboTax individual (personal) tax products</SPAN></SPAN></A></LI> <LI><A href="https://ttlc.intuit.com/community/forms/help/state-forms-availability-table-for-turbotax-business/00/26226" target="_blank"><SPAN style="font-size:9.75pt"><SPAN style="font-family:&quot;Open Sans&quot;">State forms availability table for TurboTax Business</SPAN></SPAN></A></LI> <LI><A href="https://ttlc.intuit.com/community/forms/help/which-irs-forms-are-not-included-in-turbotax/00/25551" target="_blank"><SPAN style="font-size:9.75pt"><SPAN style="font-family:&quot;Open Sans&quot;">Which IRS forms are not included in TurboTax?</SPAN></SPAN></A></LI> <LI><A href="https://ttlc.intuit.com/community/choosing-a-product/help/are-there-any-personal-individual-tax-situations-or-calculations-that-turbotax-doesn-t-handle/00/26220" target="_blank"><SPAN style="font-size:9.75pt"><SPAN style="font-family:&quot;Open Sans&quot;">Are there any personal (individual) tax situations or calculations that TurboTax doesn't handle?</SPAN></SPAN></A></LI> </UL> <P><SPAN style="font-size:9.75pt"><SPAN style="font-family:&quot;Open Sans&quot;">@</SPAN></SPAN>DoninGA</P> Tue, 16 Mar 2021 16:56:05 GMT https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2092075#M752853 ReneeM7122 2021-03-16T16:56:05Z Re: TurboTax update to 2021 American Rescue Plan https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2094529#M753778 <P><SPAN>The filing deadline for tax returns has been extended from&nbsp;</SPAN><STRONG>April 15</STRONG><SPAN>&nbsp;to July 15, 2020. The IRS urges taxpayers who are owed a refund to file as quickly as possible.</SPAN></P> Tue, 16 Mar 2021 22:27:32 GMT https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2094529#M753778 JTom 2021-03-16T22:27:32Z Re: TurboTax update to 2021 American Rescue Plan https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2094579#M753799 <BLOCKQUOTE><HR /><LI-USER uid="3825405"></LI-USER>&nbsp;wrote:<BR /> <P><SPAN>The filing deadline for tax returns has been extended from&nbsp;</SPAN><STRONG>April 15</STRONG><SPAN>&nbsp;to July 15, 2020. The IRS urges taxpayers who are owed a refund to file as quickly as possible.</SPAN></P> <HR /></BLOCKQUOTE> <P>The date of <SPAN>June 15, 2021&nbsp;</SPAN>for filing a federal tax return is <U><STRONG>only</STRONG></U> for Texas affected by the Ice Storm.</P> <P><A href="https://www.irs.gov/newsroom/irs-announces-tax-relief-for-texas-severe-winter-storm-victims" target="_blank">https://www.irs.gov/newsroom/irs-announces-tax-relief-for-texas-severe-winter-storm-victims</A></P> Tue, 16 Mar 2021 22:36:16 GMT https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2094579#M753799 DoninGA 2021-03-16T22:36:16Z Re: TurboTax update to 2021 American Rescue Plan https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2094581#M753801 <P><SPAN style="font-size:14px"><SPAN style="font-family:Arial,Helvetica,sans-serif">The last post was for 2020. The filing deadline will probably be extended for&nbsp;this year also.</SPAN></SPAN></P> Tue, 16 Mar 2021 22:36:36 GMT https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2094581#M753801 pattif12 2021-03-16T22:36:36Z Re: TurboTax update to 2021 American Rescue Plan https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2096436#M754510 <P>it would be great if TT would provide answers instead of the same links over and over that tell us nothing.&nbsp; We realize this is an unusual circumstance but honestly, we've had it with the uncertainly over the last year.&nbsp; If TT wants to retain customers, it's time to step up and give real answers and begin assisting us with real information.&nbsp; It's not like this new tax bill came out of the blue yesterday.&nbsp;&nbsp;</P> Wed, 17 Mar 2021 03:43:50 GMT https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2096436#M754510 SunnyOregon 2021-03-17T03:43:50Z Re: TurboTax update to 2021 American Rescue Plan https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2096575#M754563 <P>Our software at the CPA firm updated yesterday. We use Drake. This change was known to be coming for quite some time. Let's hope intuit was working on this when they heard about the change. Do not change your amount that could cause a red flag. The $10,200 credit will appear on a schedule 1. It will adjust your adjusted gross income. Now we wait.&nbsp;</P> Wed, 17 Mar 2021 04:11:52 GMT https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2096575#M754563 Justsmyl 2021-03-17T04:11:52Z Re: TurboTax update to 2021 American Rescue Plan https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2099502#M755623 <P><A href="https://www.cnbc.com/2021/03/17/turbotax-hr-block-need-time-for-tweaks-to-10200-unemployment-tax-break.html" target="_blank">https://www.cnbc.com/2021/03/17/turbotax-hr-block-need-time-for-tweaks-to-10200-unemployment-tax-break.html</A></P><P>&nbsp;</P><P>According to this article, TT might have the changes implemented by Thursday (March 18) night.</P> Wed, 17 Mar 2021 17:59:12 GMT https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2099502#M755623 cmBarron 2021-03-17T17:59:12Z Re: TurboTax update to 2021 American Rescue Plan https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2099526#M755634 <P><LI-USER uid="3787173"></LI-USER>&nbsp;Thank you for posting that.&nbsp; &nbsp; If that is accurate we will ALL rejoice so that users can file!&nbsp; &nbsp;</P> Wed, 17 Mar 2021 18:02:26 GMT https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2099526#M755634 xmasbaby0 2021-03-17T18:02:26Z Re: TurboTax update to 2021 American Rescue Plan https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2101829#M756497 <P>I NEED to be emailed when the New Update to the Software for the Unemployment Exclusion is READY&nbsp; &nbsp;</P><P>&nbsp;&nbsp;</P><P>My email address is&nbsp; &nbsp;[email address removed]</P><P>&nbsp;</P><P>THank you</P> Wed, 17 Mar 2021 23:50:24 GMT https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2101829#M756497 dyoung9080a 2021-03-17T23:50:24Z Re: TurboTax update to 2021 American Rescue Plan https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2101841#M756501 <P>If the Software change is not made before the April 15 deadline,&nbsp; What are we supposted to do???????????</P><P>&nbsp;</P><P>&nbsp;</P><P>my email&nbsp; &nbsp;[email address removed]</P> Wed, 17 Mar 2021 23:52:56 GMT https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2101841#M756501 dyoung9080a 2021-03-17T23:52:56Z Re: TurboTax update to 2021 American Rescue Plan https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2101849#M756504 <P>The filing deadline has been extended to May 15.</P> <P>&nbsp;</P> <P>&nbsp;</P> <P class="p1"><A href="https://ttlc.intuit.com/community/tax-topics/help/how-will-the-stimulus-package-impact-me/01/1393859#U1393859" target="_blank">https://ttlc.intuit.com/community/tax-topics/help/how-will-the-stimulus-package-impact-me/01/1393859#U1393859</A></P> <P class="p2">&nbsp;</P> <P class="p1">You are among millions who have now been affected by a mid-tax season change in the tax law.<SPAN class="Apple-converted-space">&nbsp; </SPAN>Patience will be necessary.</P> <P class="p1">TurboTax will update the software for the unemployment but there is no timeline yet.</P> <P class="p3"><SPAN class="Apple-converted-space">&nbsp; </SPAN>If you have not e-filed yet—-wait. <SPAN class="Apple-converted-space">&nbsp; </SPAN>And if you already e-filed and want to amend for this—WAIT.</P> <P class="p4">&nbsp;</P> <P class="p3"><SPAN class="s1"><A href="https://ttlc.intuit.com/community/tax-topics/help/how-do-i-get-the-new-unemployment-benefits-if-i-ve-already-filed-my-taxes/00/2081053" target="_blank">https://ttlc.intuit.com/community/tax-topics/help/how-do-i-get-the-new-unemployment-benefits-if-i-ve-already-filed-my-taxes/00/2081053</A></SPAN></P> <P class="p4">&nbsp;</P> <P class="p4">&nbsp;</P> <P class="p3">Please read this very recent news from the IRS:</P> <P class="p4">&nbsp;</P> <P class="p3"><A href="https://www.irs.gov/newsroom/irs-statement-american-rescue-plan-act-of-2021" target="_blank">https://www.irs.gov/newsroom/irs-statement-american-rescue-plan-act-of-2021</A></P> <P>&nbsp;</P> Wed, 17 Mar 2021 23:53:59 GMT https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2101849#M756504 xmasbaby0 2021-03-17T23:53:59Z Re: TurboTax update to 2021 American Rescue Plan https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2103100#M756949 <P>Y'all TurboTax emailed me *this morning* saying the changes will be made to their filing software this Friday 3/19.</P><P>&nbsp;</P><P>I'm sure everyone who was too impatient is all mad now lol.&nbsp;&nbsp;</P><P>&nbsp;</P><P>Here's the email BTW :</P><P>&nbsp;</P><P><SPAN>Dear TurboTax Customer,</SPAN><BR /><SPAN>&nbsp;</SPAN><BR /><SPAN>We're working around-the-clock to make updates to TurboTax based on the recently-enacted American Rescue Plan so you can file with confidence and get your maximum refund.</SPAN><BR /><SPAN>&nbsp;</SPAN><BR /><SPAN>You indicated a preference to wait for a product update related to Unemployment benefits. Because of this, we're informing you we expect TurboTax to be updated on Friday (3/19) to include the new federal tax relief calculations. Please login to your TurboTax account to continue when you are ready.</SPAN><BR /><SPAN>&nbsp;</SPAN><BR /><SPAN>Thank you for being a TurboTax customer.</SPAN><BR /><SPAN>&nbsp;</SPAN><BR /><SPAN>Sincerely,</SPAN><BR /><SPAN>The TurboTax Care Team</SPAN></P> Thu, 18 Mar 2021 05:23:38 GMT https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2103100#M756949 dollheaddemon 2021-03-18T05:23:38Z Re: TurboTax update to 2021 American Rescue Plan https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2106149#M758044 <P>Making an entry on line 8 of the Worksheet for Schedule 1 will reduce the taxable portion of unemployment benefits.&nbsp; It does this by reducing the Adjusted Gross Income.&nbsp; This might give an accurate picture of tax liability for many people.&nbsp; However, for persons who purchase their health insurance through the Federal Government's Insurance Marketplace, this could be a problem.&nbsp; It's my understanding that the amount of insurance premium credit/assistance is based on ALL household income.&nbsp; This would include the non-taxable portion of unemployment benefits.&nbsp; My concern is that reducing the Adjustable Gross Income would create an understatement of income, resulting in a false overpayment of premium and an incorrect refund of premiums.&nbsp; &nbsp; &nbsp;&nbsp;</P> Thu, 18 Mar 2021 20:58:45 GMT https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2106149#M758044 skibum11 2021-03-18T20:58:45Z Re: TurboTax update to 2021 American Rescue Plan https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2106695#M758244 <P>WHEN CAN I UPDATE TO RECEIVE THE AMERICA RESCUE PLAN?</P> Thu, 18 Mar 2021 22:41:28 GMT https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2106695#M758244 glotac2019 2021-03-18T22:41:28Z Re: TurboTax update to 2021 American Rescue Plan https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2106697#M758246 <P>Yikes! I hadn't heard that! If that is the case, then we will still owe a huge amount of money because the unemployment income puts us over the ACA cliff. We will have to repay every penny of our ACA discount if that is how it is going to work, so we are going to owe mid-5 digits of taxes! If the untaxable portion of unemployment doesn't count towards our income for ACA discount qualifications, then that pulls us back from that cliff and we will only have to repay about $2K of our ACA discount, and only mid-4 digits in total taxes.</P> Thu, 18 Mar 2021 22:41:45 GMT https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2106697#M758246 cmBarron 2021-03-18T22:41:45Z Re: TurboTax update to 2021 American Rescue Plan https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2106705#M758251 <P>I just started the software. &nbsp;It downloaded and installed Delaware program updates&nbsp;</P><P>&nbsp;</P><P>need instructions to do my unemployment exclusion for the 10,200. savings.&nbsp;<BR /><BR /></P><P>&nbsp;</P><P>Help ????</P> Thu, 18 Mar 2021 22:43:04 GMT https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2106705#M758251 dyoung9080a 2021-03-18T22:43:04Z Re: TurboTax update to 2021 American Rescue Plan https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2106792#M758292 <P>My post is only my "understanding" of ACA.&nbsp; I'm by no stretch an expert.&nbsp; Best thing to do is contact the Insurance Marketplace or your insurance advisor for guidance.&nbsp; I'm going to.&nbsp; As a test, I updated my income data in TT to adjust for the non-taxable portion of unemployment benefits, and the difference in liability/refund was huge.&nbsp; I'm just not sure it's correct.&nbsp; &nbsp;&nbsp;</P> Thu, 18 Mar 2021 23:01:26 GMT https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2106792#M758292 skibum11 2021-03-18T23:01:26Z Re: TurboTax update to 2021 American Rescue Plan https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2106940#M758343 <P>Yeah, I did the manual adjustment of my unemployment, too, and, like you, the tax owed was different by a whole decimal place.</P> Thu, 18 Mar 2021 23:27:48 GMT https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2106940#M758343 cmBarron 2021-03-18T23:27:48Z Re: TurboTax update to 2021 American Rescue Plan https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2107071#M758386 <P>That is great news!&nbsp; Wonder why I didn't receive that email since I signed up for the notification.&nbsp; Oh well, thanks for posting!&nbsp; Could I ask if you would post if the software is updated just in case I don't get an eamil.&nbsp; Thanks again.</P> Thu, 18 Mar 2021 23:52:26 GMT https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2107071#M758386 mh8279 2021-03-18T23:52:26Z Re: TurboTax update to 2021 American Rescue Plan https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2107085#M758392 <P><LI-USER uid="611422" login="dollheaddemon"></LI-USER></P><P>Thanks for posting the email you received.&nbsp; I wonder why I didn't receive one since I have signed up for the update.&nbsp; Oh well, thanks again and if you could post that it was updated, I would greatly appreciate it.</P><P>&nbsp;</P><P>&nbsp;</P> Thu, 18 Mar 2021 23:54:42 GMT https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2107085#M758392 mh8279 2021-03-18T23:54:42Z Re: TurboTax update to 2021 American Rescue Plan https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2110406#M759509 <P>How did you make the adjustment? I'm trying to file online with TT and can't seem to make any adjustments to my 1099-G for the tax credit. This will change our tax situation greatly.&nbsp; Thank you to anyone with any input.&nbsp;</P> Fri, 19 Mar 2021 20:10:39 GMT https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2110406#M759509 samden13 2021-03-19T20:10:39Z Re: TurboTax update to 2021 American Rescue Plan https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2110516#M759542 <P><SPAN style="font-size:10.5pt"><SPAN style="font-family:Arial"><SPAN style="color:#2e2e2e">The IRS strongly urges taxpayers&nbsp;not to file amended returns&nbsp;related to the new legislative provisions or take other unnecessary steps at this time. The IRS will provide taxpayers with additional guidance on those provisions that could affect their 2020 tax return, including the retroactive provision that makes the first $10,200 of 2020 unemployment benefits nontaxable.</SPAN></SPAN></SPAN></P><P><SPAN style="font-size:10.5pt"><SPAN style="font-family:Arial"><SPAN style="color:#2e2e2e">&nbsp;</SPAN></SPAN></SPAN></P><P><SPAN style="font-size:10.5pt"><SPAN style="font-family:Arial"><SPAN style="color:#2e2e2e">For those who haven't filed yet, the IRS will provide a worksheet for paper filers and work with software industry to update current tax software so that taxpayers can determine how to report their unemployment income on their 2020 tax return.</SPAN></SPAN></SPAN></P><P><SPAN style="font-size:10.5pt"><SPAN style="font-family:Arial"><SPAN style="color:#2e2e2e">&nbsp;</SPAN></SPAN></SPAN></P><P><SPAN style="font-size:10.5pt"><SPAN style="font-family:Arial"><SPAN style="color:#2e2e2e">TurboTax is developing the software required to process all of the new conditions.</SPAN></SPAN></SPAN></P><P><SPAN style="font-size:10.5pt"><SPAN style="font-family:Arial"><SPAN style="color:#2d3338">&nbsp;</SPAN></SPAN></SPAN></P><P><A href="https://ttlc.intuit.com/community/tax-topics/help/how-do-i-get-the-new-unemployment-benefits-if-i-ve-already-filed-my-taxes/00/2081053" target="_blank"><SPAN style="font-size:10.5pt"><SPAN style="font-family:Arial">How do I get the new unemployment benefits if I’ve already filed my taxes?</SPAN></SPAN></A></P><P><A href="https://turbotax.intuit.com/tax-tips/tax-relief/american-rescue-plan-what-does-it-mean-for-you-and-a-third-stimulus-check/L8W2ZwLkK" target="_blank"><SPAN style="font-size:10.5pt"><SPAN style="font-family:Arial">Here is a TurboTax article</SPAN></SPAN></A><SPAN style="font-size:10.5pt"><SPAN style="font-family:Arial"><SPAN style="color:#2d3338">&nbsp;about the American Rescue Plan.</SPAN></SPAN></SPAN></P><P><SPAN style="font-size:10.5pt"><SPAN style="font-family:Arial"><SPAN style="color:#2d3338">@</SPAN></SPAN></SPAN>samden13</P> Fri, 19 Mar 2021 20:29:16 GMT https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2110516#M759542 ReneeM7122 2021-03-19T20:29:16Z Re: TurboTax update to 2021 American Rescue Plan https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2110552#M759553 <P>We did this edit and sent it our sons claim to the irs.&nbsp; It does seem to fit the requirements:&nbsp;I went to line 22 of other taxable income worksheet type in UCE use the minus sign not parenthesis -10,200 and it will show in red. I takes it to the schedule 1 and the 1040</P> Fri, 19 Mar 2021 20:35:14 GMT https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2110552#M759553 dh2004 2021-03-19T20:35:14Z Re: TurboTax update to 2021 American Rescue Plan https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2110564#M759559 <P>I would have thought last night's update would have included the most recent unemployment exemption but those changes aren't flowing through to my forms.&nbsp; I manually input the exemption on Schedule 1 as per the IRS instructions as well but am willing to wait a few more days if the next updates will include the exemption.&nbsp; Has anyone had luck with the exemption flowing through without manually entering it?</P> Fri, 19 Mar 2021 20:37:56 GMT https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2110564#M759559 DGtax 2021-03-19T20:37:56Z Re: TurboTax update to 2021 American Rescue Plan https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2110606#M759573 <P>I'm using the online version and I'm not familiar with how to enter it manually on Schedule 1. I really just want to file my taxes.&nbsp;</P> Fri, 19 Mar 2021 20:46:06 GMT https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2110606#M759573 samden13 2021-03-19T20:46:06Z Re: TurboTax update to 2021 American Rescue Plan https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2110829#M759654 <P>I just went into my taxes 3/19 after receiving the same email from turbo tax, and no update for the unemployment benefit has been applied.</P> Fri, 19 Mar 2021 21:26:22 GMT https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2110829#M759654 must 2021-03-19T21:26:22Z Re: TurboTax update to 2021 American Rescue Plan https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2111257#M759780 <P>It seem strange, . .&nbsp; &nbsp;I used to really believe in TurboTax. . .&nbsp;</P><P>I have friends that use Taxslayerpro and they have already implemented the America Rescue Plan changes - -&nbsp; completely. . .&nbsp; SAD. . .&nbsp; &nbsp;</P> Fri, 19 Mar 2021 23:00:20 GMT https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2111257#M759780 vlincoln 2021-03-19T23:00:20Z Re: TurboTax update to 2021 American Rescue Plan https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2111528#M759868 <P>I was informed a week ago that TT will have completed their update of the&nbsp;<SPAN>recently-enacted American Rescue Plan by</SPAN>&nbsp;Friday (today 3/19/21), and, at that time, I can go ahead and complete filing my taxes.&nbsp; Am I now to understand that&nbsp; because I have not received an email from TT, confirming their update of the&nbsp;<SPAN>recently-enacted American Rescue Plan, I should not proceed with filing my taxes?&nbsp; If so, please let me know at your earliest convenience.&nbsp; I want to put this behind me ASP.</SPAN></P><P><SPAN>Thank you,</SPAN></P><P><SPAN>Steve Ababan&nbsp;</SPAN></P> Sat, 20 Mar 2021 00:24:54 GMT https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2111528#M759868 lafleurplumeria 2021-03-20T00:24:54Z Re: TurboTax update to 2021 American Rescue Plan https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2112895#M760379 <P>A &nbsp;married couple has a combined AGI &gt;150K, but one spouse has an income &lt;100K including his unemployment payments.</P><P>In past years, they filed tax returns using Married-Filing Jointly status. This year they plan to choose MFS status, and remove $10,200 from the unemployment income in the unemployed spouse’s return, but are not sure about whether the IRS will object.</P><P>What does the TT community think? Your feedback will be appreciated.</P><P><STRONG>&nbsp;</STRONG><STRONG>&nbsp;</STRONG></P><P>FYI: Section 9042 of the American Rescue Plan – 2021 (Suspension of tax on portion of unemployment compensation) only mentions about the 150K threadhold as AGI of the taxpayer, and not the combined AGI of married couples.</P><P>&nbsp;</P><P><STRONG><EM>SEC. 9042: “(c)&nbsp;Special Rule For 2020.—</EM></STRONG></P><P><STRONG><EM>“(1)&nbsp;</EM></STRONG><STRONG><EM>IN GENERAL.—In the case of any taxable year beginning in 2020, if the adjusted gross income of the <U>taxpayer</U> for such taxable year is less than $150,000, the gross income of such taxpayer shall not include so much of the unemployment compensation received by such taxpayer (or, in the case of a joint return, received by each spouse) as does not exceed $10,200.</EM></STRONG></P> Sat, 20 Mar 2021 15:07:41 GMT https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2112895#M760379 hosituandung 2021-03-20T15:07:41Z Re: TurboTax update to 2021 American Rescue Plan https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2113276#M760518 <P>The American Rescue plans includes a provision for receiving too much tax credits towards Health Coverage on the Affordable Care Act regardless of income. With the the tax deadline fast approaching, when will TurboTax have this information uploaded? TurboTax should be offering direction to their customers so that they can file an extension if needed.&nbsp;</P> Sat, 20 Mar 2021 16:41:47 GMT https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2113276#M760518 Self Preparer 2021-03-20T16:41:47Z Re: TurboTax update to 2021 American Rescue Plan https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2116385#M761624 <P>The 10,200 exclusion has been implemented but the Premium Tax Credit provision has not. I received a message telling me I'm good to go on the Fed but not the State because the PTC changes have not been implemented. The problem with this very bad advice is the PTC affects your Federal return and could seriously impact your tax due or refund.&nbsp;</P> Sun, 21 Mar 2021 14:42:46 GMT https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2116385#M761624 craveking 2021-03-21T14:42:46Z Re: TurboTax update to 2021 American Rescue Plan https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2116687#M761725 <P><SPAN style="font-size: 14px;"><SPAN style="font-family: Arial,Helvetica,sans-serif;"><LI-USER uid="3857823"></LI-USER></SPAN></SPAN></P> <P><SPAN style="font-size: 14px;"><SPAN style="font-family: Arial,Helvetica,sans-serif;">The IRS addresses the Premium Tax Credit in this&nbsp;<A href="https://www.irs.gov/affordable-care-act/individuals-and-families/the-premium-tax-credit-the-basics" target="_blank" rel="noopener">IRS FAQ</A>&nbsp;:</SPAN></SPAN></P> <P>&nbsp;</P> <P><SPAN style="font-size: 14px;"><SPAN style="font-family: Arial,Helvetica,sans-serif;"><STRONG><EM>Check Back for Updates to this Page</EM></STRONG></SPAN></SPAN></P> <P>&nbsp;</P> <P><SPAN style="font-size: 14px;"><SPAN style="font-family: Arial,Helvetica,sans-serif;"><EM>We’re reviewing the tax provisions of the American Rescue Plan Act of 2021, signed into law on March 11, 2021. Taxpayers who filed a 2020 tax return and reported an excess advance premium tax credit repayment on Line 29 of Form 8962, Premium Tax Credit, should not file an amended tax return only to get a refund of this amount. The IRS will provide more details soon. For the latest updates, check&nbsp;</EM><A href="https://www.irs.gov/coronavirus-tax-relief-and-economic-impact-payments" target="_blank" rel="noopener">IRS.gov/coronavirus</A><EM>.</EM></SPAN></SPAN></P> <P>[Edited 03/23/2021 7:16 AM PST]</P> Tue, 23 Mar 2021 14:17:14 GMT https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2116687#M761725 JamesG1 2021-03-23T14:17:14Z Re: TurboTax update to 2021 American Rescue Plan https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2116868#M761786 <P>Why wouldn't TurboTax update their software when ProSeries (Intuit) has been updated the UCE on Friday?</P> Sun, 21 Mar 2021 16:53:36 GMT https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2116868#M761786 maximgt 2021-03-21T16:53:36Z Re: TurboTax update to 2021 American Rescue Plan https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2116901#M761801 <P><SPAN style="color:null"><SPAN style="font-size:14px"><SPAN style="font-family:Arial,Helvetica,sans-serif">Try doing it now.&nbsp; The online program has been updated to automatically apply the adjustment for unemployment as long as you have entered it in the appropriate section as outlined below.&nbsp; </SPAN></SPAN></SPAN></P> <P>&nbsp;</P> <P><SPAN style="color:null"><SPAN style="font-size:14px"><SPAN style="font-family:Arial,Helvetica,sans-serif">The desktop software is still being updated but you can sign up with the following link for updates.</SPAN></SPAN></SPAN></P> <P>&nbsp;</P> <P><SPAN style="font-size:14px"><SPAN style="font-family:Arial,Helvetica,sans-serif"><A href="https://ttlc.intuit.com/community/tax-topics/help/how-do-i-claim-the-new-unemployment-benefits-in-turbotax/00/2081055" target="_blank"><SPAN style="color:null">Sign up for updates on unemployment benefits</SPAN></A></SPAN></SPAN></P> <P><SPAN style="color:null"><SPAN style="font-size:14px"><SPAN style="font-family:Arial,Helvetica,sans-serif">&nbsp;</SPAN></SPAN></SPAN></P> <P><SPAN style="color:null"><SPAN style="font-size:14px"><SPAN style="font-family:Arial,Helvetica,sans-serif">You will enter the unemployment&nbsp;information in the federal interview section.</SPAN></SPAN></SPAN></P> <OL> <LI><SPAN style="color:null"><SPAN style="font-size:14px"><SPAN style="font-family:Arial,Helvetica,sans-serif">Select&nbsp;<STRONG>Income &amp; Expenses</STRONG></SPAN></SPAN></SPAN></LI> <LI><SPAN style="color:null"><SPAN style="font-size:14px"><SPAN style="font-family:Arial,Helvetica,sans-serif">Scroll down to&nbsp;<STRONG>All Income&nbsp;</STRONG>and select&nbsp;<STRONG>Unemployment</STRONG></SPAN></SPAN></SPAN></LI> <LI><SPAN style="color:null"><SPAN style="font-size:14px"><SPAN style="font-family:Arial,Helvetica,sans-serif">Select&nbsp;<STRONG>Unemployment and paid family leave</STRONG></SPAN></SPAN></SPAN></LI> <LI><SPAN style="color:null"><SPAN style="font-size:14px"><SPAN style="font-family:Arial,Helvetica,sans-serif">You will be able to enter your information from your Form 1099-G&nbsp;</SPAN></SPAN></SPAN></LI> </OL> <P><SPAN style="color:null"><SPAN style="font-size:14px"><SPAN style="font-family:Arial,Helvetica,sans-serif">The adjustment will be reflected on Schedule 1, Line 8G.</SPAN></SPAN></SPAN></P> <P>&nbsp;</P> <P><SPAN style="color:null"><SPAN style="font-size:14px"><SPAN style="font-family:Arial,Helvetica,sans-serif"><IMG alt="Unemployment adjustment" src="https://lithium-response-prod.s3.us-west-2.amazonaws.com/turbotax.response.lithium.com/RESPONSEIMAGE/0492f11d-4547-427b-a32a-098a448bfb3e.default.PNG" style="height:444px; width:512px" /></SPAN></SPAN></SPAN></P> <P>&nbsp;</P> <P><SPAN style="font-size:14px"><SPAN style="font-family:Arial,Helvetica,sans-serif"><A href="https://www.irs.gov/newsroom/irs-statement-american-rescue-plan-act-of-2021" target="_blank"><SPAN style="color:null">IRS Statement on American Rescue Plan</SPAN></A></SPAN></SPAN></P> <P>&nbsp;</P> <P><SPAN style="color:null"><SPAN style="font-size:14px"><SPAN style="font-family:Arial,Helvetica,sans-serif"><LI-USER uid="63969" login="maximgt"></LI-USER></SPAN></SPAN></SPAN></P> Sun, 21 Mar 2021 17:00:43 GMT https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2116901#M761801 JotikaT2 2021-03-21T17:00:43Z Re: TurboTax update to 2021 American Rescue Plan https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2116974#M761836 <P>The 10,200 reduction has been implemented. I saw it on my return. I also see this message from Intuit on my Turbotax screen. The Advance Premium Tax Credit has not been implemented.</P><P>&nbsp;</P><P>"We’re working quickly to address new tax changes included in the American Rescue Plan Act of 2021 (ARPA), which went into effect March 11, 2021.</P><P>Any unemployment benefits you’re eligible for as part of the ARPA have been added to your federal return. But, because this act was passed so recently, we’re still updating changes for each state and those who were required to repay any of the Advance Premium Tax Credit.</P><P>We expect to have all our updates completed soon, but you don’t have to wait to file your federal return. We'll reach out to you later if changes are needed.<BR />As we continue to work on these updates, we’ll email you if you need to do anything after you file."</P> Sun, 21 Mar 2021 17:18:42 GMT https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2116974#M761836 craveking 2021-03-21T17:18:42Z Re: TurboTax update to 2021 American Rescue Plan https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2117015#M761853 <P>I do not see the UCE on Schedule 1, and my TT software is up to date.</P> Sun, 21 Mar 2021 17:30:01 GMT https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2117015#M761853 maximgt 2021-03-21T17:30:01Z Re: TurboTax update to 2021 American Rescue Plan https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2117048#M761869 <P>apparently it's implemented in the online version but not the desktop version. Definitely implemented in my return.</P> Sun, 21 Mar 2021 17:36:32 GMT https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2117048#M761869 craveking 2021-03-21T17:36:32Z Re: TurboTax update to 2021 American Rescue Plan https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2117077#M761880 <P><SPAN style="color:null"><SPAN style="font-size:14px"><SPAN style="font-family:Arial,Helvetica,sans-serif">The updates have been made for the federal returns using the online program.&nbsp; The updates are being implemented for the desktop software.&nbsp;</SPAN></SPAN></SPAN></P> <P><SPAN style="color:null"><SPAN style="font-size:14px"><SPAN style="font-family:Arial,Helvetica,sans-serif">&nbsp;</SPAN></SPAN></SPAN></P> <P><SPAN style="color:null"><SPAN style="font-size:14px"><SPAN style="font-family:Arial,Helvetica,sans-serif">I recommend signing up for updates using the link below to be notified when the update is completed for the desktop version of the software.</SPAN></SPAN></SPAN></P> <P>&nbsp;</P> <P><SPAN style="font-size:14px"><SPAN style="font-family:Arial,Helvetica,sans-serif"><A href="https://ttlc.intuit.com/community/tax-topics/help/how-do-i-claim-the-new-unemployment-benefits-in-turbotax/00/2081055" target="_blank"><SPAN style="color:null">Unemployment update for desktop</SPAN></A></SPAN></SPAN></P> <P><SPAN style="color:null"><SPAN style="font-size:14px"><SPAN style="font-family:Arial,Helvetica,sans-serif">&nbsp;</SPAN></SPAN></SPAN></P> <P><SPAN style="color:null"><SPAN style="font-size:14px"><SPAN style="font-family:Arial,Helvetica,sans-serif">Please see the following link as well for updated information as it is released.</SPAN></SPAN></SPAN></P> <P><SPAN style="color:null"><SPAN style="font-size:14px"><SPAN style="font-family:Arial,Helvetica,sans-serif">&nbsp;</SPAN></SPAN></SPAN></P> <P><SPAN style="font-size:14px"><SPAN style="font-family:Arial,Helvetica,sans-serif"><A href="https://ttlc.intuit.com/community/tax-topics/help/how-will-the-stimulus-package-impact-me/00/1393859" target="_blank"><SPAN style="color:null">How will the 3rd stimulus affect me</SPAN></A></SPAN></SPAN></P> <P>&nbsp;</P> <P><SPAN style="color:null"><SPAN style="font-size:14px"><SPAN style="font-family:Arial,Helvetica,sans-serif"><LI-USER uid="63969" login="maximgt"></LI-USER></SPAN></SPAN></SPAN></P> <P>&nbsp;</P> Sun, 21 Mar 2021 17:41:49 GMT https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2117077#M761880 JotikaT2 2021-03-21T17:41:49Z Re: TurboTax update to 2021 American Rescue Plan https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2117428#M762005 <P>Just finished my taxes on TurboTax Home and Business. And now have to wait to file because TT hasn't updated the software? March 20th already. Unemployment is prepared and working now, Why isn't TT?</P> Sun, 21 Mar 2021 19:03:04 GMT https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2117428#M762005 JeanieLMM 2021-03-21T19:03:04Z Re: TurboTax update to 2021 American Rescue Plan https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2117480#M762027 <P>As part of the recently passed American Rescue Plan, the first $10,200 worth of unemployment payments are now tax-free for a person with an annual modified adjusted gross income&nbsp;of&nbsp;less than $150,000. This expanded tax relief begins this year, starting for taxpayers filing returns after January 1, 2020.&nbsp;Once the IRS provides additional guidance, TurboTax will be updated to reflect these new tax laws relating to unemployment.&nbsp;</P> <P>&nbsp;</P> <P>If you haven’t filed your 2020 taxes yet and would like to receive progress status updates, please sign up&nbsp;<A href="https://support.turbotax.intuit.com/forms/containment.jsp?fid=Rene%7C18261%7Cd" target="_blank">here.</A>&nbsp;</P> Sun, 21 Mar 2021 19:14:37 GMT https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2117480#M762027 ErnieS0 2021-03-21T19:14:37Z Re: TurboTax update to 2021 American Rescue Plan https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2117539#M762047 <P>What if I already have a an entry on Schedule 1, line 8 worksheet, then Line 22. additional contribution to HSA. Where do I enter the -10200</P> Sun, 21 Mar 2021 19:28:37 GMT https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2117539#M762047 JeanieLMM 2021-03-21T19:28:37Z Re: TurboTax update to 2021 American Rescue Plan https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2117587#M762066 <P><LI-USER uid="3855017" login="JeanieLMM"></LI-USER> You do not have to enter a subtraction. TurboTax Online automatically does the calculation for you if you qualify for the $10,200 federal unemployment exemption.</P> <P>&nbsp;</P> <P>If your modified adjusted gross income (AGI) is less than $150,000, the American Rescue Plan enacted on March 11, 2021, excludes from income up to $10,200 of unemployment compensation paid in 2020, which means you don’t have to pay tax on unemployment compensation of up to $10,200. If you are married, each spouse receiving unemployment compensation doesn’t have to pay tax on unemployment compensation of up to $10,200. Amounts over $10,200 for each individual are still taxable. If your modified AGI is $150,000 or more, you can’t exclude any unemployment compensation.</P> <P>&nbsp;</P> <P><SPAN style="font-size:11.0pt"><SPAN style="font-family:Calibri">Related Resource:</SPAN></SPAN></P> <UL> <LI><A href="https://www.irs.gov/faqs/irs-procedures/forms-publications/new-exclusion-of-up-to-10200-of-unemployment-compensation" target="_blank"><SPAN style="font-size:11.0pt"><SPAN style="font-family:Calibri">New Exclusion of up to $10,200 of Unemployment Compensation</SPAN></SPAN></A></LI> </UL> <P><IMG alt="$10,200 exemption" src="https://lithium-response-prod.s3.us-west-2.amazonaws.com/turbotax.response.lithium.com/RESPONSEIMAGE/34c90ccc-6639-4455-8cea-e034b60e1390.default.png" style="height:300px; width:512px" /></P> Sun, 21 Mar 2021 19:41:43 GMT https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2117587#M762066 ErnieS0 2021-03-21T19:41:43Z Re: TurboTax update to 2021 American Rescue Plan https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2117693#M762112 <P>Expert</P><P>The desk top doesn't have that&nbsp; feature yet.</P> Sun, 21 Mar 2021 20:02:02 GMT https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2117693#M762112 JeanieLMM 2021-03-21T20:02:02Z Re: TurboTax update to 2021 American Rescue Plan https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2119872#M762958 <P>No you will have to wait.&nbsp; It is not Turbo Tax that is taking so long but the IRS.&nbsp; By just reducing the unemployment by $10,200 is not only incorrect but illegal as you will not have the correct forms.&nbsp; The filing deadline has been extended and by the looks of it you will have plenty of time to file.&nbsp; Or file and once everything is figured out the IRS will probably do the refund for the unemployment instead of having millions do an amended tax return.</P> Mon, 22 Mar 2021 08:59:16 GMT https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2119872#M762958 Skyraptor 2021-03-22T08:59:16Z Re: TurboTax update to 2021 American Rescue Plan https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2119883#M762963 <P>Better do your math better next time.&nbsp; It would be a refund of $1,020 for the Federal Tax of $10,200 based on 10% withholding, not $1,200.</P> Mon, 22 Mar 2021 09:27:08 GMT https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2119883#M762963 Skyraptor 2021-03-22T09:27:08Z Re: TurboTax update to 2021 American Rescue Plan https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2120450#M763145 <P>It has now been updated to reflect the forgiveness on paying taxes for the first $10,200.00 of unemployment.</P> Mon, 22 Mar 2021 14:28:02 GMT https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2120450#M763145 Oii 2021-03-22T14:28:02Z Re: TurboTax update to 2021 American Rescue Plan https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2120486#M763154 <P>I started my TT software on my desktop, and the update did not kick in :(</img></P> Mon, 22 Mar 2021 14:36:34 GMT https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2120486#M763154 maximgt 2021-03-22T14:36:34Z Re: TurboTax update to 2021 American Rescue Plan https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2120488#M763155 <P>You are correct, the American rescue plan excludes taxes&nbsp;for the first $10,200.00 of unemployment benefits, and TurboTax has been updated to reflect that.</P> <P>&nbsp;</P> <P><SPAN style="font-size:11.0pt"><SPAN style="font-family:Calibri"><A href="https://turbotax.intuit.com/tax-tips/tax-relief/american-rescue-plan-what-does-it-mean-for-you-and-a-third-stimulus-check/L8W2ZwLkK" target="_blank">Here is a TurboTax article</A> about the American Rescue Plan.</SPAN></SPAN></P> <P><SPAN style="font-size:11.0pt"><SPAN style="font-family:Calibri">&nbsp;</SPAN></SPAN></P> <P><SPAN style="font-size:9.75pt"><SPAN style="font-family:&quot;Open Sans&quot;"><SPAN style="color:#2e2e2e">The IRS is reviewing implementation plans for the newly enacted American Rescue Plan Act of 2021.&nbsp; If anything else that affects you does not seem to be working just yet in the software, t</SPAN></SPAN></SPAN><SPAN style="font-size:9.75pt"><SPAN style="font-family:&quot;Open Sans&quot;"><SPAN style="color:#2e2e2e">he IRS strongly urges taxpayers&nbsp;not to file amended returns&nbsp;related to the new legislative provisions or take other unnecessary steps at this time. The IRS will provide taxpayers with additional guidance on those provisions that could affect their 2020 tax return, including the retroactive provision that makes the first $10,200 of 2020 unemployment benefits nontaxable.</SPAN></SPAN></SPAN></P> <P>&nbsp;</P> <P><SPAN style="font-size:9.75pt"><SPAN style="font-family:&quot;Open Sans&quot;"><SPAN style="color:#2e2e2e">&nbsp;</SPAN></SPAN></SPAN><SPAN style="font-size:9.75pt"><SPAN style="font-family:&quot;Open Sans&quot;"><SPAN style="color:#2e2e2e">TurboTax is developing the software required to process all of the new conditions.</SPAN></SPAN></SPAN></P> <P><SPAN style="font-size:9.75pt"><SPAN style="font-family:&quot;Open Sans&quot;"><SPAN style="color:#2e2e2e">@</SPAN></SPAN></SPAN>Oii</P> Mon, 22 Mar 2021 14:37:00 GMT https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2120488#M763155 ReneeM7122 2021-03-22T14:37:00Z Re: TurboTax update to 2021 American Rescue Plan https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2120544#M763176 <P>Yes, you are right, some aspects of the software are still being developed while TurboTax works with the IRS and receives guidance from them.</P><P><SPAN style="font-size:11.0pt"><SPAN style="font-family:Calibri">&nbsp;</SPAN></SPAN></P><P><SPAN style="font-size:9.75pt"><SPAN style="font-family:&quot;Open Sans&quot;"><SPAN style="color:#2e2e2e">The IRS is reviewing implementation plans for the newly enacted American Rescue Plan Act of 2021. Additional information will be forthcoming.</SPAN></SPAN></SPAN></P><P><SPAN style="font-size:9.75pt"><SPAN style="font-family:&quot;Open Sans&quot;"><SPAN style="color:#2e2e2e">&nbsp;</SPAN></SPAN></SPAN></P><P><SPAN style="font-size:9.75pt"><SPAN style="font-family:&quot;Open Sans&quot;"><SPAN style="color:#2e2e2e">The IRS strongly urges taxpayers&nbsp;not to file amended returns&nbsp;related to the new legislative provisions or take other unnecessary steps at this time. The IRS will provide taxpayers with additional guidance on those provisions that could affect their 2020 tax return, including the retroactive provision that makes the first $10,200 of 2020 unemployment benefits nontaxable.</SPAN></SPAN></SPAN></P><P><SPAN style="font-size:9.75pt"><SPAN style="font-family:&quot;Open Sans&quot;"><SPAN style="color:#2e2e2e">&nbsp;</SPAN></SPAN></SPAN></P><P><SPAN style="font-size:9.75pt"><SPAN style="font-family:&quot;Open Sans&quot;"><SPAN style="color:#2e2e2e">For those who haven't filed yet, the IRS will provide worksheets for paper filers and work with software industry to update current tax software so that taxpayers can determine how to report things affected by the American Rescue Plan on their&nbsp;2020 tax return.</SPAN></SPAN></SPAN></P><P><SPAN style="font-size:9.75pt"><SPAN style="font-family:&quot;Open Sans&quot;"><SPAN style="color:#2e2e2e">&nbsp;</SPAN></SPAN></SPAN></P><P><SPAN style="font-size:9.75pt"><SPAN style="font-family:&quot;Open Sans&quot;"><SPAN style="color:#2e2e2e">TurboTax is developing the software required to process all of the new conditions.</SPAN></SPAN></SPAN></P><P>&nbsp;</P><P><SPAN style="font-size:11.0pt"><SPAN style="font-family:Calibri"><A href="https://turbotax.intuit.com/tax-tips/tax-relief/american-rescue-plan-what-does-it-mean-for-you-and-a-third-stimulus-check/L8W2ZwLkK" target="_blank">Here is a TurboTax article</A> about the American Rescue Plan</SPAN></SPAN></P><P>&nbsp;</P><P><SPAN style="font-size:11.0pt"><SPAN style="font-family:Calibri">@</SPAN></SPAN>maximgt</P> Mon, 22 Mar 2021 14:50:07 GMT https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2120544#M763176 ReneeM7122 2021-03-22T14:50:07Z Re: TurboTax update to 2021 American Rescue Plan https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2120670#M763227 <P><LI-USER uid="63969"></LI-USER>&nbsp;The CD/download software has not been updated for unemployment yet.&nbsp; &nbsp;They say it will update sometime on 3-26-21.&nbsp; &nbsp; Only online TT has been updated for unemployment so far.</P> Mon, 22 Mar 2021 15:16:57 GMT https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2120670#M763227 xmasbaby0 2021-03-22T15:16:57Z Re: TurboTax update to 2021 American Rescue Plan https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2120711#M763240 <P>Last week TT said it was coming 3/19.&nbsp;&nbsp;</P> Mon, 22 Mar 2021 15:25:02 GMT https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2120711#M763240 ossysprog 2021-03-22T15:25:02Z Re: TurboTax update to 2021 American Rescue Plan https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2122068#M763712 <P>My daughter's tax report is showing she can get additional tax relief for the American Rescue Plan because of unemployment. She has been given two options "Continue to File" or "I'll Wait to File". We have used the update feature before but when we update it shows as Updated.</P> Mon, 22 Mar 2021 19:09:55 GMT https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2122068#M763712 aalaniz 2021-03-22T19:09:55Z Re: TurboTax update to 2021 American Rescue Plan https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2122137#M763738 <P><LI-USER uid="3895822" login="aalaniz"></LI-USER> <STRONG>TurboTax Online</STRONG> has been updated for the exemption of the first $10,200 of income from unemployment. We are still waiting for <STRONG>TurboTax CD\Desktop</STRONG> updates.</P> <P>&nbsp;</P> <P>If your daughter is using TurboTax Online, preview the 1040 before filing to make sure the subtraction is there. If it's not, delete the unemployment and re-enter the information.</P> <UL> <LI><SPAN style="font-size:11.0pt"><SPAN style="font-family:Calibri">Click </SPAN></SPAN><SPAN style="font-size:11.0pt"><STRONG><SPAN style="font-family:Calibri">Tax Tools </SPAN></STRONG></SPAN><SPAN style="font-size:11.0pt"><SPAN style="font-family:Calibri">in the left column.</SPAN></SPAN></LI> <LI><SPAN style="font-size:11.0pt"><SPAN style="font-family:Calibri">Click </SPAN></SPAN><SPAN style="font-size:11.0pt"><STRONG><SPAN style="font-family:Calibri">Tools.</SPAN></STRONG></SPAN></LI> <LI><SPAN style="font-size:11.0pt"><SPAN style="font-family:Calibri">Select </SPAN></SPAN><SPAN style="font-size:11.0pt"><STRONG><SPAN style="font-family:Calibri">View Tax Summary</SPAN></STRONG></SPAN><SPAN style="font-size:11.0pt"><SPAN style="font-family:Calibri"> in the center.</SPAN></SPAN></LI> <LI><SPAN style="font-size:11.0pt"><SPAN style="font-family:Calibri">Go back to the left column. Select </SPAN></SPAN><SPAN style="font-size:11.0pt"><EM><SPAN style="font-family:Calibri">Preview my 1040.</SPAN></EM></SPAN></LI> <LI><SPAN style="font-size:11.0pt"><SPAN style="font-family:Calibri">Form 1040 will display. Use the slider bar to the right of the form to move up and down.</SPAN></SPAN></LI> <LI><SPAN style="font-size:11.0pt"><SPAN style="font-family:Calibri">When you are finished viewing, go back to the left column and select </SPAN></SPAN><SPAN style="font-size:11.0pt"><STRONG><SPAN style="font-family:Calibri">Back.</SPAN></STRONG></SPAN></LI> </UL> <P>&nbsp;</P> <P><IMG src="https://lithium-response-prod.s3.us-west-2.amazonaws.com/turbotax.response.lithium.com/RESPONSEIMAGE/2ab3b5af-c82d-492f-afd4-52cc4c563ce0.default.png" style="height:300px; width:512px" /></P> <P>&nbsp;</P> <P><SPAN style="font-size:11.0pt"><SPAN style="font-family:Calibri">If your modified adjusted gross income (AGI) is less than $150,000, the American Rescue Plan enacted on March 11, 2021, excludes from income up to $10,200 of unemployment compensation paid in 2020, which means you don’t have to pay tax on unemployment compensation of up to $10,200. If you are married, each spouse receiving unemployment compensation doesn’t have to pay tax on unemployment compensation of up to $10,200. Amounts over $10,200 for each individual are still taxable. If your modified AGI is $150,000 or more, you can’t exclude any unemployment compensation.</SPAN></SPAN></P> <P><SPAN style="font-size:11.0pt"><SPAN style="font-family:Calibri">&nbsp;</SPAN></SPAN></P> <P><SPAN style="font-size:11.0pt"><SPAN style="font-family:Calibri">Related Resource:</SPAN></SPAN></P> <UL> <LI><A href="https://www.irs.gov/faqs/irs-procedures/forms-publications/new-exclusion-of-up-to-10200-of-unemployment-compensation" target="_blank"><SPAN style="font-size:11.0pt"><SPAN style="font-family:Calibri">New Exclusion of up to $10,200 of Unemployment Compensation</SPAN></SPAN></A></LI> </UL> <P><SPAN style="font-size:11.0pt"><SPAN style="font-family:Calibri">**Say "Thanks" by clicking the thumb icon in a post</SPAN></SPAN></P> <P><SPAN style="font-size:11.0pt"><SPAN style="font-family:Calibri">**Mark the post that answers your question by clicking on "Mark as Best Answer"</SPAN></SPAN></P> Mon, 22 Mar 2021 19:20:40 GMT https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2122137#M763738 ErnieS0 2021-03-22T19:20:40Z Re: TurboTax update to 2021 American Rescue Plan https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2122201#M763760 <P><SPAN>Can SOMEONE from Turbotax please inform the customers: when will Turbotax be updated to reflect the new tax provisions in the American Rescue Plan Act? I would've thought TT had these ready to go in the event it passed.</SPAN></P> Mon, 22 Mar 2021 19:28:56 GMT https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2122201#M763760 fawilson 2021-03-22T19:28:56Z Re: TurboTax update to 2021 American Rescue Plan https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2122227#M763769 <P><SPAN>Would you advise that I just take away $10,200 from my unemployment or wait for the added IRS Tax Form?&nbsp; This deduction from my unemployment will increase my refund.</SPAN></P> Mon, 22 Mar 2021 19:34:03 GMT https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2122227#M763769 fawilson 2021-03-22T19:34:03Z Re: TurboTax update to 2021 American Rescue Plan https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2122238#M763773 <P>Thank you for the quick advise and reply. Yeah we use the download version so I will have her wait till March 26th for the updates.</P> Mon, 22 Mar 2021 19:36:57 GMT https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2122238#M763773 aalaniz 2021-03-22T19:36:57Z Re: TurboTax update to 2021 American Rescue Plan https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2122295#M763797 <P>I can't preview my 1040 because I still have not paid for TT. I can see my tax summary and it's not hard to figure out if the UI income exemption has been implemented. But I cannot view individual forms and I'm not going to pay until I know the software has been updated with the premium tax credit as well. Maybe there some trick to seeing individual forms before you pay but I haven't figured it out.</P> Mon, 22 Mar 2021 19:48:15 GMT https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2122295#M763797 craveking 2021-03-22T19:48:15Z
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<title>
topic TurboTax update to 2021 American Rescue Plan in Get your taxes done using TurboTax
</title>
<link>
https://ttlc.intuit.com/community/taxes/discussion/turbotax-update-to-2021-american-rescue-plan/01/2065977#M743634
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<description>
<P>The American Rescue Plan just passed. The TT website mentions the new stimulus checks and some other aspects of this new Act. However, it will also affect income by forgiving $10,200 in unemployment payments for each spouse and forgive paying back Advance Healthcare Tax Credits for 2020 as a result of unanticipated increases to income from unemployment benefits.</P><P>&nbsp;</P><P>Both of these affect my 2020 taxes. The current calculations in my TT account do NOT reflect the new changes in law and I haven't seen any indication on the TT website about when they will update calculations.</P><P>&nbsp;</P><P>Can SOMEONE from Turbotax please inform the customers: when will Turbotax be updated to reflect the new tax provisions in the American Rescue Plan Act? I would've thought TT had these ready to go in the event it passed.</P>
</description>
<pubDate>Fri, 12 Mar 2021 02:08:26 GMT</pubDate>
<dc:creator>baluku2002</dc:creator>
<dc:date>2021-03-12T02:08:26Z</dc:date>
<item>
<title>TurboTax update to 2021 American Rescue Plan</title>
<link>
https://ttlc.intuit.com/community/taxes/discussion/turbotax-update-to-2021-american-rescue-plan/01/2065977#M743634
</link>
<description>
<P>The American Rescue Plan just passed. The TT website mentions the new stimulus checks and some other aspects of this new Act. However, it will also affect income by forgiving $10,200 in unemployment payments for each spouse and forgive paying back Advance Healthcare Tax Credits for 2020 as a result of unanticipated increases to income from unemployment benefits.</P><P>&nbsp;</P><P>Both of these affect my 2020 taxes. The current calculations in my TT account do NOT reflect the new changes in law and I haven't seen any indication on the TT website about when they will update calculations.</P><P>&nbsp;</P><P>Can SOMEONE from Turbotax please inform the customers: when will Turbotax be updated to reflect the new tax provisions in the American Rescue Plan Act? I would've thought TT had these ready to go in the event it passed.</P>
</description>
<pubDate>Fri, 12 Mar 2021 02:08:26 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/taxes/discussion/turbotax-update-to-2021-american-rescue-plan/01/2065977#M743634
</guid>
<dc:creator>baluku2002</dc:creator>
<dc:date>2021-03-12T02:08:26Z</dc:date>
</item>
<item>
<title>Re: TurboTax update to 2021 American Rescue Plan</title>
<link>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2066003#M743643
</link>
<description>
<P class="p1">&nbsp;</P> <P class="p2"><A href="https://ttlc.intuit.com/community/tax-topics/help/how-will-the-stimulus-package-impact-me/01/1393859#U1393859" target="_blank">https://ttlc.intuit.com/community/tax-topics/help/how-will-the-stimulus-package-impact-me/01/1393859#U1393859</A></P> <P class="p1">&nbsp;</P> <P class="p1">&nbsp;</P> <P class="p1">&nbsp;</P> <P class="p2">You are among millions who have now been affected by a mid-tax season change in the tax law.<SPAN class="Apple-converted-space">&nbsp; </SPAN>Patience will be necessary.</P> <P class="p2">TurboTax will update the software for the unemployment but there is no timeline yet.</P> <P class="p3">It can take weeks to several months or more for the changes to be made to tax software.&nbsp; &nbsp;First the IRS has to change its forms.&nbsp; &nbsp;The tax software has to be changed; the IRS has to test and approve of the software.&nbsp; &nbsp;Do not expect changes in the software to happen quickly.&nbsp; &nbsp;TurboTax may have more information in the near future AFTER the bill is signed into law, and some more details emerge about how Congress and the IRS will implement the changes.</P>
</description>
<pubDate>Fri, 12 Mar 2021 02:13:32 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2066003#M743643
</guid>
<dc:creator>xmasbaby0</dc:creator>
<dc:date>2021-03-12T02:13:32Z</dc:date>
</item>
<item>
<title>Re: TurboTax update to 2021 American Rescue Plan</title>
<link>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2067596#M744187
</link>
<description>
<P>Would you advise that I just take away $10,200 from my adult sons unemployment or wait for the added IRS Tax Form?&nbsp; He currently has to pay a couple thousand in taxes but if we take out the $10,200 he actually will get a refund.&nbsp;</P>
</description>
<pubDate>Fri, 12 Mar 2021 14:44:51 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2067596#M744187
</guid>
<dc:creator>dh2004</dc:creator>
<dc:date>2021-03-12T14:44:51Z</dc:date>
</item>
<item>
<title>Re: TurboTax update to 2021 American Rescue Plan</title>
<link>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2067730#M744234
</link>
<description>
<P>I am in the same situation. Turbo Tax isn't being forthcoming in when it will&nbsp; have everything updated, if it will before or AFTER taxes are due.&nbsp;&nbsp;</P><P>&nbsp;</P><P>TURBO TAX, please inform your customers as to whether the needed changes will be done before or after the tax deadline.</P><P>&nbsp;</P><P>thank you.</P>
</description>
<pubDate>Fri, 12 Mar 2021 15:16:36 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2067730#M744234
</guid>
<dc:creator>baluku2002</dc:creator>
<dc:date>2021-03-12T15:16:36Z</dc:date>
</item>
<item>
<title>Re: TurboTax update to 2021 American Rescue Plan</title>
<link>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2067738#M744238
</link>
<description>
<P>The bill HAS been signed into law. It is in effect. Please provide some guidance as to when Intuit will likely make the necessary changes. I understand that TT needs guidance from the IRS as to how to incorporate the changes into practice, but your customers need to know whether to expect the updates to happen BEFORE or AFTER taxes are due in April.</P>
</description>
<pubDate>Fri, 12 Mar 2021 15:18:28 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2067738#M744238
</guid>
<dc:creator>baluku2002</dc:creator>
<dc:date>2021-03-12T15:18:28Z</dc:date>
</item>
<item>
<title>Re: TurboTax update to 2021 American Rescue Plan</title>
<link>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2067760#M744245
</link>
<description>
<P class="p1">&nbsp;</P> <P class="p2"><A href="https://ttlc.intuit.com/community/tax-topics/help/how-will-the-stimulus-package-impact-me/01/1393859#U1393859" target="_blank">https://ttlc.intuit.com/community/tax-topics/help/how-will-the-stimulus-package-impact-me/01/1393859#U1393859</A></P> <P class="p1">&nbsp;</P> <P class="p1">&nbsp;</P> <P class="p1">&nbsp;</P> <P class="p2">You are among millions who have now been affected by a mid-tax season change in the tax law.<SPAN class="Apple-converted-space">&nbsp; </SPAN>Patience will be necessary.</P> <P class="p2">TurboTax will update the software for the unemployment but there is no timeline yet.</P> <P class="p3">It can take weeks to several months or more for the changes to be made to tax software.&nbsp; &nbsp;First the IRS has to change its forms.&nbsp; &nbsp;The tax software has to be changed; the IRS has to test and approve of the software.&nbsp; &nbsp;Do not expect changes in the software to happen quickly.&nbsp; &nbsp;TurboTax may have more information in the near future AFTER the bill is signed into law, and some more details emerge about how Congress and the IRS will implement the changes.</P>
</description>
<pubDate>Fri, 12 Mar 2021 15:23:25 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2067760#M744245
</guid>
<dc:creator>xmasbaby0</dc:creator>
<dc:date>2021-03-12T15:23:25Z</dc:date>
</item>
<item>
<title>Re: TurboTax update to 2021 American Rescue Plan</title>
<link>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2072814#M745963
</link>
<description>
<P>Can you just reduce the amount of unemployment received by the $10,200 and let the software calculate?</P><P>Why will is take so long to get the software updated?&nbsp; Taxes are due in 5 weeks</P>
</description>
<pubDate>Sat, 13 Mar 2021 16:06:30 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2072814#M745963
</guid>
<dc:creator>dm1979</dc:creator>
<dc:date>2021-03-13T16:06:30Z</dc:date>
</item>
<item>
<title>Re: TurboTax update to 2021 American Rescue Plan</title>
<link>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2072869#M745980
</link>
<description>
<P>NO you cannot just reduce your unemployment amount.&nbsp; &nbsp;This law passed a couple of days ago.&nbsp; &nbsp;Have some patience so that the IRS can give directives and guidelines to the software companies.&nbsp; &nbsp; Do you want to file your tax return correctly the first time or spend months waiting for the IRS to process an amended return if you use "self help" and mess it up?</P>
</description>
<pubDate>Sat, 13 Mar 2021 16:17:27 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2072869#M745980
</guid>
<dc:creator>xmasbaby0</dc:creator>
<dc:date>2021-03-13T16:17:27Z</dc:date>
</item>
<item>
<title>Re: TurboTax update to 2021 American Rescue Plan</title>
<link>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2074644#M746632
</link>
<description>
<P>The IRS will not make any form changes. They have issued these instructions.</P><P><A href="https://www.irs.gov/faqs/irs-procedures/forms-publications/new-exclusion-of-up-to-10200-of-unemployment-compensation" target="_blank">New Exclusion of up to $10,200 of Unemployment Compensation | Internal Revenue Service (irs.gov)</A></P><P>&nbsp;</P><P>I have been able to enter the credit amount on Line 8 of Schedule 1 and the tax is correctly calculated. I just need to enter a description of "UCE". It is currently showing a description of Gambling Winnings. Is there an easy way to override this?</P>
</description>
<pubDate>Sat, 13 Mar 2021 21:09:29 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2074644#M746632
</guid>
<dc:creator>Wally1600</dc:creator>
<dc:date>2021-03-13T21:09:29Z</dc:date>
</item>
<item>
<title>Re: TurboTax update to 2021 American Rescue Plan</title>
<link>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2078712#M748045
</link>
<description>
<P>how did you enter this information in turbotax?</P>
</description>
<pubDate>Sun, 14 Mar 2021 18:14:17 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2078712#M748045
</guid>
<dc:creator>staceysnope</dc:creator>
<dc:date>2021-03-14T18:14:17Z</dc:date>
</item>
<item>
<title>Re: TurboTax update to 2021 American Rescue Plan</title>
<link>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2078740#M748052
</link>
<description>
<P class="p1"><A href="https://ttlc.intuit.com/community/tax-topics/help/how-will-the-stimulus-package-impact-me/01/1393859#U1393859" target="_blank">https://ttlc.intuit.com/community/tax-topics/help/how-will-the-stimulus-package-impact-me/01/1393859#U1393859</A></P> <P class="p2">&nbsp;</P> <P class="p2">&nbsp;</P> <P class="p2">&nbsp;</P> <P class="p1">You are among millions who have now been affected by a mid-tax season change in the tax law.<SPAN class="Apple-converted-space">&nbsp; </SPAN>Patience will be necessary.</P> <P class="p1">TurboTax will update the software for the unemployment but there is no timeline yet.</P> <P class="p3"><SPAN class="Apple-converted-space">&nbsp; </SPAN>If you have not e-filed yet—<FONT face="arial black,avant garde">-wait.</FONT> <SPAN class="Apple-converted-space">&nbsp; </SPAN>And if you already e-filed and want to amend for this—WAIT.</P> <P class="p4">&nbsp;</P> <P class="p4">Please read this very recent news from the IRS:</P> <P class="p4">&nbsp;</P> <P class="p3"><A href="https://www.irs.gov/newsroom/irs-statement-american-rescue-plan-act-of-2021" target="_blank">https://www.irs.gov/newsroom/irs-statement-american-rescue-plan-act-of-2021</A></P>
</description>
<pubDate>Sun, 14 Mar 2021 18:17:33 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2078740#M748052
</guid>
<dc:creator>xmasbaby0</dc:creator>
<dc:date>2021-03-14T18:17:33Z</dc:date>
</item>
<item>
<title>Re: TurboTax update to 2021 American Rescue Plan</title>
<link>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2078817#M748081
</link>
<description>
<P>Based on the IRS link you provided, there will be a new Unemployment Compensation Exclusion Worksheet that you need to fill out that will be available at some point.&nbsp; This will take the information and put it properly in line 8 of schedule 1.&nbsp; So, we need to wait for that worksheet.</P>
</description>
<pubDate>Sun, 14 Mar 2021 18:26:27 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2078817#M748081
</guid>
<dc:creator>staceysnope</dc:creator>
<dc:date>2021-03-14T18:26:27Z</dc:date>
</item>
<item>
<title>Re: TurboTax update to 2021 American Rescue Plan</title>
<link>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2078897#M748110
</link>
<description>
<P>Go to Schedule 1 Line 8 and click on the amount field. A magnifying glass will appear. Double click on this and it will take you to the workshheet for Schedule 1 Line 8. When you get to the worksheet enter -10200 on Line 22 with a description of "UCE".&nbsp; Click off the line and it should update correctly. Go back to Schedule one and you should see UCE under Line 8 with an amount of -10200.</P>
</description>
<pubDate>Sun, 14 Mar 2021 18:36:45 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2078897#M748110
</guid>
<dc:creator>Wally1600</dc:creator>
<dc:date>2021-03-14T18:36:45Z</dc:date>
</item>
<item>
<title>Re: TurboTax update to 2021 American Rescue Plan</title>
<link>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2079017#M748162
</link>
<description>
<P>I agree you need to manually complete the IRS worksheet to make sure you qualify for this exclusion. If you do this is how you can correctly enter the exclusion in Turbo Tax until they can get the programs updated. I don't plan to wait for that.</P><P>&nbsp;</P><P><SPAN>Go to Schedule 1 Line 8 and click on the amount field. A magnifying glass will appear. Double click on this and it will take you to the workshheet for Schedule 1 Line 8. When you get to the worksheet enter -10200 on Line 22 with a description of "UCE".&nbsp; Click off the line and it should update correctly. Go back to Schedule one and you should see UCE under Line 8 with an amount of -10200.</SPAN></P>
</description>
<pubDate>Sun, 14 Mar 2021 18:53:38 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2079017#M748162
</guid>
<dc:creator>Wally1600</dc:creator>
<dc:date>2021-03-14T18:53:38Z</dc:date>
</item>
<item>
<title>Re: TurboTax update to 2021 American Rescue Plan</title>
<link>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2079157#M748220
</link>
<description>
<P class="p1"><FONT size="5">Please read this very recent news from the IRS:</FONT></P> <P class="p2">&nbsp;</P> <P class="p1"><FONT size="5"><A href="https://www.irs.gov/newsroom/irs-statement-american-rescue-plan-act-of-2021" target="_blank">https://www.irs.gov/newsroom/irs-statement-american-rescue-plan-act-of-2021</A></FONT></P>
</description>
<pubDate>Sun, 14 Mar 2021 19:10:12 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2079157#M748220
</guid>
<dc:creator>xmasbaby0</dc:creator>
<dc:date>2021-03-14T19:10:12Z</dc:date>
</item>
<item>
<title>Re: TurboTax update to 2021 American Rescue Plan</title>
<link>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2079185#M748234
</link>
<description>
<P>I think this is more recent and explains how this exclusion will be handled on the forms.</P><P>&nbsp;</P><P><A href="https://www.irs.gov/faqs/irs-procedures/forms-publications/new-exclusion-of-up-to-10200-of-unemployment-compensation" target="_blank">New Exclusion of up to $10,200 of Unemployment Compensation | Internal Revenue Service (irs.gov)</A></P>
</description>
<pubDate>Sun, 14 Mar 2021 19:14:50 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2079185#M748234
</guid>
<dc:creator>Wally1600</dc:creator>
<dc:date>2021-03-14T19:14:50Z</dc:date>
</item>
<item>
<title>Re: TurboTax update to 2021 American Rescue Plan</title>
<link>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2079342#M748288
</link>
<description>
<P>How do we go to individual forms in turbotax?&nbsp;</P>
</description>
<pubDate>Sun, 14 Mar 2021 19:36:46 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2079342#M748288
</guid>
<dc:creator>Skimoab</dc:creator>
<dc:date>2021-03-14T19:36:46Z</dc:date>
</item>
<item>
<title>Re: TurboTax update to 2021 American Rescue Plan</title>
<link>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2079451#M748325
</link>
<description>
<P>Just click on Forms in upper right hand corner next to Flags and Notifications. A list of forms and worksheets will appear on the left hand side. Click on the form you wish to view.</P>
</description>
<pubDate>Sun, 14 Mar 2021 19:53:14 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2079451#M748325
</guid>
<dc:creator>Wally1600</dc:creator>
<dc:date>2021-03-14T19:53:14Z</dc:date>
</item>
<item>
<title>Re: TurboTax update to 2021 American Rescue Plan</title>
<link>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2079566#M748365
</link>
<description>
<P>Only the CD/download has Forms mode.&nbsp; &nbsp;Online TT does not have forms mode.</P>
</description>
<pubDate>Sun, 14 Mar 2021 20:10:16 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2079566#M748365
</guid>
<dc:creator>xmasbaby0</dc:creator>
<dc:date>2021-03-14T20:10:16Z</dc:date>
</item>
<item>
<title>Re: TurboTax update to 2021 American Rescue Plan</title>
<link>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2079818#M748458
</link>
<description>
<P>How do you navigate to specific forms like that? Thanks.</P>
</description>
<pubDate>Sun, 14 Mar 2021 20:40:39 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2079818#M748458
</guid>
<dc:creator>linda sue</dc:creator>
<dc:date>2021-03-14T20:40:39Z</dc:date>
</item>
<item>
<title>Re: TurboTax update to 2021 American Rescue Plan</title>
<link>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2080289#M748640
</link>
<description>
<P>I would not do this, it has to be filed properly.&nbsp; Also, you don't get $10,200, you get the taxes back that you paid on that amount - which should be about $1,200</P>
</description>
<pubDate>Sun, 14 Mar 2021 21:54:38 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2080289#M748640
</guid>
<dc:creator>Noralla</dc:creator>
<dc:date>2021-03-14T21:54:38Z</dc:date>
</item>
<item>
<title>Re: TurboTax update to 2021 American Rescue Plan</title>
<link>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2082914#M749524
</link>
<description>
<P>Can you share how you were able to access that form in order to adjust it yourself? &nbsp;I can’t figure out how to get to it, and I searched through the help topics. &nbsp;Thank you!</P>
</description>
<pubDate>Mon, 15 Mar 2021 12:50:29 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2082914#M749524
</guid>
<dc:creator>Yse822</dc:creator>
<dc:date>2021-03-15T12:50:29Z</dc:date>
</item>
<item>
<title>Re: TurboTax update to 2021 American Rescue Plan</title>
<link>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2083830#M749826
</link>
<description>
<P>you can't access forms if you are using the online version of turbo tax.</P>
</description>
<pubDate>Mon, 15 Mar 2021 15:40:55 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2083830#M749826
</guid>
<dc:creator>staceysnope</dc:creator>
<dc:date>2021-03-15T15:40:55Z</dc:date>
</item>
<item>
<title>Re: TurboTax update to 2021 American Rescue Plan</title>
<link>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2083888#M749850
</link>
<description>
<P>Do you work for Turbotax? Your answers certainly suggest that you might. Before there was ever Turbotax, plenty of people did their own taxes with their own forms: it's simply a longer, more tedious process. At this point, without more information from Turbotax as to WHEN they will make the necessary changes, I will simply make the necessary adjustments and do all my taxes on paper forms correctly. And TT will lose me as a customer.</P><P>&nbsp;</P><P>I am willing to be patient but TT needs to be forthcoming regarding when the necessary changes will be made. I am finding that its competitors: HR Block, Hewitt, etc. are providing more information on their websites.</P><P>&nbsp;</P><P>&nbsp;</P>
</description>
<pubDate>Mon, 15 Mar 2021 15:48:23 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2083888#M749850
</guid>
<dc:creator>baluku2002</dc:creator>
<dc:date>2021-03-15T15:48:23Z</dc:date>
</item>
<item>
<title>Re: TurboTax update to 2021 American Rescue Plan</title>
<link>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2083908#M749861
</link>
<description>
<BLOCKQUOTE><HR /><LI-USER uid="3743993"></LI-USER>&nbsp;wrote:<BR /> <P>Do you work for Turbotax? Your answers certainly suggest that you might. Before there was ever Turbotax, plenty of people did their own taxes with their own forms: it's simply a longer, more tedious process. At this point, without more information from Turbotax as to WHEN they will make the necessary changes, I will simply make the necessary adjustments and do all my taxes on paper forms correctly. And TT will lose me as a customer.</P> <P>&nbsp;</P> <P>I am willing to be patient but TT needs to be forthcoming regarding when the necessary changes will be made. I am finding that its competitors: HR Block, Hewitt, etc. are providing more information on their websites.</P> <P>&nbsp;</P> <P>&nbsp;</P> <HR /></BLOCKQUOTE> <P>See this TurboTax support FAQ for information for the unemployment compensation exclusion -&nbsp;<A href="https://ttlc.intuit.com/community/tax-topics/help/how-do-i-claim-the-new-unemployment-benefits-in-turbotax/00/2081055" target="_blank" rel="noopener">https://ttlc.intuit.com/community/tax-topics/help/how-do-i-claim-the-new-unemployment-benefits-in-tu...</A></P> <P>&nbsp;</P> <P><SPAN>Also see this IRS statement -&nbsp;<A href="https://www.irs.gov/newsroom/irs-statement-american-rescue-plan-act-of-2021" target="_blank" rel="noopener nofollow noopener noreferrer">https://www.irs.gov/newsroom/irs-statement-american-rescue-plan-act-of-2021</A></SPAN></P>
</description>
<pubDate>Mon, 15 Mar 2021 15:50:50 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2083908#M749861
</guid>
<dc:creator>DoninGA</dc:creator>
<dc:date>2021-03-15T15:50:50Z</dc:date>
</item>
<item>
<title>Re: TurboTax update to 2021 American Rescue Plan</title>
<link>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2085313#M750379
</link>
<description>
<P>Suggesting small change to your instructions: <SPAN>Go to Schedule 1 Line 8 and click on the amount field. A magnifying glass will appear. Double click on this and it will take you to the worksheet for Schedule 1 Line 8. When you get to the worksheet enter <STRIKE>-10200 on Line 22 with a description of "UCE"</STRIKE>.&nbsp;<STRONG>&nbsp;Scroll down to the box&nbsp;"Other Adjustments to Income Smart Worksheet."&nbsp; &nbsp;On line H, enter "UCE "&nbsp; and $10,200 as the amount. Then the $10,200 automatically appears on line 22</STRONG>. Click off the line and it should update correctly. Go back to Schedule one and you should see UCE under Line 8 with an amount of -10200.&nbsp;</SPAN></P>
</description>
<pubDate>Mon, 15 Mar 2021 18:24:52 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2085313#M750379
</guid>
<dc:creator>RIMom1</dc:creator>
<dc:date>2021-03-15T18:24:52Z</dc:date>
</item>
<item>
<title>Re: TurboTax update to 2021 American Rescue Plan</title>
<link>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2085389#M750404
</link>
<description>
<P>Maybe its best to wait a couple of weeks before filing your return.&nbsp; Wait and see what the advice is then.&nbsp;</P><P>&nbsp;</P><P>I had originally posted a method to add the $10,200 unemployment credit to your 1040, using Schedule 1, line 22.&nbsp; (directly amending Schedule 1, which you can do if you have the CD version of Turbotax which lets you work directly on the tax forms.)&nbsp;&nbsp;&nbsp;But I don't know enough about what the IRS requirements will be. So I have changed my post.&nbsp;</P>
</description>
<pubDate>Tue, 16 Mar 2021 13:22:09 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2085389#M750404
</guid>
<dc:creator>RIMom1</dc:creator>
<dc:date>2021-03-16T13:22:09Z</dc:date>
</item>
<item>
<title>Re: TurboTax update to 2021 American Rescue Plan</title>
<link>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2085408#M750410
</link>
<description>
<P>perfecto!!!&nbsp; Thank you&nbsp; Now I can finish up our Adult Son's taxes. He has autism and was laid off from his part time job last march.&nbsp; His unemployment is much more than his normal job pays by far.&nbsp; &nbsp; Thanks for suggesting:&nbsp;<SPAN>Suggesting small change to your instructions:&nbsp;</SPAN><SPAN>Go to Schedule 1 Line 8 and click on the amount field. A magnifying glass will appear. Double click on this and it will take you to the worksheet for Schedule 1 Line 8. When you get to the worksheet enter&nbsp;<SPAN>-10200 on Line 22 with a description of "UCE"</SPAN>.&nbsp;<STRONG>&nbsp;Scroll down to the box&nbsp;"Other Adjustments to Income Smart Worksheet."&nbsp; &nbsp;On line H, enter "UCE "&nbsp; and $10,200 as the amount. Then the $10,200 automatically appears on line 22</STRONG>. Click off the line and it should update correctly. Go back to Schedule one and you should see UCE under Line 8 with an amount of -10200.&nbsp;</SPAN></P>
</description>
<pubDate>Mon, 15 Mar 2021 18:34:50 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2085408#M750410
</guid>
<dc:creator>dh2004</dc:creator>
<dc:date>2021-03-15T18:34:50Z</dc:date>
</item>
<item>
<title>Re: TurboTax update to 2021 American Rescue Plan</title>
<link>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2085735#M750528
</link>
<description>
<P>What do you do if you have already e-filed your Federal Taxes?&nbsp; Do you amend them?&nbsp; Will the IRS send an update?&nbsp; Will Turbo Tax have an update to amend for this soon?</P>
</description>
<pubDate>Mon, 15 Mar 2021 19:09:45 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2085735#M750528
</guid>
<dc:creator>MB317</dc:creator>
<dc:date>2021-03-15T19:09:45Z</dc:date>
</item>
<item>
<title>Re: TurboTax update to 2021 American Rescue Plan</title>
<link>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2085767#M750543
</link>
<description>
<P>Based on the IRS Instructions here the exclusion should appear as a negative amount on Schedule 1 Line 8 with a description of UCE (see item 10 below). Based on the changes you made it doesn't display correctly on the Schedule 1 Form. Turbo Tax correctly calculates the tax, however, the IRS wants to see the exclusion on Line 8 of Schedule 1.</P><P>&nbsp;</P><P><STRONG>Unemployment Compensation Exclusion Worksheet – Schedule 1, Line 8</STRONG></P><OL><LI>Enter the total of lines 1 through 7 of Form 1040 and Schedule 1, lines 1 through 7. Include the full amount of unemployment compensation you received in 2020 on Schedule 1, line 7.</LI><LI>Use the line 8 instructions to determine the amount to include on Schedule 1, line 8 and enter here. Do not reduce this amount by the amount of unemployment compensation you may be able to exclude.</LI><LI>Add lines 1 and 2.</LI><LI>Enter the total of line 10b of Form 1040 and Schedule 1, lines 10 through 21.</LI><LI>Subtract line 4 from line 3. This is your modified adjusted gross income.</LI><LI>Is the amount on line 5 $150,000 or more?<UL><LI>[ ]Yes. Stop You can’t exclude any of your employment compensation</LI><LI>[ ]No. Go to line 7</LI></UL></LI><LI>Enter the amount of unemployment compensation paid to you in 2020. Don’t enter more than $10,200</LI><LI>If married filing jointly, enter the amount of unemployment compensation paid to your spouse in 2020. Don’t enter more than $10,200</LI><LI>Add lines 7 and 8 and enter the amount here. This is the amount of unemployment compensation excluded from your income.</LI><LI>Subtract line 9 from line 2 and enter the amount on Schedule 1, line 8. If the result is less than zero, enter it in parentheses. On the dotted line next to Schedule 1, line 8, enter “UCE” and show the amount of unemployment compensation exclusion in parentheses on the dotted line. Complete the rest of Schedule 1 and Form 1040, 1040-SR, or 1040-NR.</LI></OL>
</description>
<pubDate>Mon, 15 Mar 2021 19:13:42 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2085767#M750543
</guid>
<dc:creator>Wally1600</dc:creator>
<dc:date>2021-03-15T19:13:42Z</dc:date>
</item>
<item>
<title>Re: TurboTax update to 2021 American Rescue Plan</title>
<link>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2086087#M750674
</link>
<description>
<P>fyi, to level set expectations - the tax bill will not be going down by $10,200. Your son's income will be reduced by 10,200, so the tax reduction will roughly be $10,200 x marginal tax rate (e.g., 15%). So the tax benefit on someone with a 15% tax rate will be $1530 if they received at least $10,200 in Unemployment benefits. Hope this helps.&nbsp;</P><P>&nbsp;</P>
</description>
<pubDate>Mon, 15 Mar 2021 19:46:46 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2086087#M750674
</guid>
<dc:creator>willhamm</dc:creator>
<dc:date>2021-03-15T19:46:46Z</dc:date>
</item>
<item>
<title>Re: TurboTax update to 2021 American Rescue Plan</title>
<link>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2086487#M750836
</link>
<description>
<P>Turbo Tax won't allow anything to be entered on Schedule 1, Line 8, as far as I can see. How did you do it?</P>
</description>
<pubDate>Mon, 15 Mar 2021 20:30:45 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2086487#M750836
</guid>
<dc:creator>RIMom1</dc:creator>
<dc:date>2021-03-15T20:30:45Z</dc:date>
</item>
<item>
<title>Re: TurboTax update to 2021 American Rescue Plan</title>
<link>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2086506#M750844
</link>
<description>
<P>If you’ve already filed your 2020 return, hang tight. The IRS will provide guidance on how you can claim these additional benefits soon.</P> <P>&nbsp;</P> <P>&nbsp;</P>
</description>
<pubDate>Mon, 15 Mar 2021 20:32:20 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2086506#M750844
</guid>
<dc:creator>gloriah5200</dc:creator>
<dc:date>2021-03-15T20:32:20Z</dc:date>
</item>
<item>
<title>Re: TurboTax update to 2021 American Rescue Plan</title>
<link>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2086696#M750903
</link>
<description>
<P>The instructions provided by IRS and included above are for paper returns.&nbsp;</P> <P>&nbsp;</P> <P><SPAN style="font-size:10.0pt"><SPAN style="font-family:Arial"><SPAN style="color:#2d3338">With this new law, if your household income is less than $150,000, the first $10,200 of unemployment will be tax-free, but any amount you receive above that will be taxed. We must wait on the IRS for the way they want this to be handled.&nbsp; Please continue to use the links below to know the most up to date information. If you already filed your tax return do&nbsp;NOT&nbsp;amend at this time per IRS.&nbsp;</SPAN></SPAN></SPAN></P> <UL> <LI><A href="https://ttlc.intuit.com/community/tax-topics/help/how-do-i-claim-the-new-unemployment-benefits-in-turbotax/00/2081055" target="_blank"><SPAN style="font-size:10.0pt"><SPAN style="font-family:Arial">How do I claim the new unemployment benefits in TurboTax?</SPAN></SPAN></A></LI> <LI><A href="https://ttlc.intuit.com/community/tax-topics/help/how-do-i-get-the-new-unemployment-benefits-if-i-ve-already-filed-my-taxes/00/2081053" target="_blank"><SPAN style="font-size:10.0pt"><SPAN style="font-family:Arial">How do I get the new unemployment benefits if I already filed?</SPAN></SPAN></A></LI> <LI><A href="https://blog.turbotax.intuit.com/tax-news/american-rescue-plan-what-does-it-mean-for-you-and-a-third-stimulus-check-49041/" target="_blank"><SPAN style="font-size:10.0pt"><SPAN style="font-family:&quot;Open Sans&quot;">American Rescue Plan: What Does it Mean for You and a Third Stimulus Check</SPAN></SPAN></A></LI> <LI><A href="https://www.irs.gov/newsroom/irs-statement-american-rescue-plan-act-of-2021" target="_blank"><SPAN style="font-size:10.0pt"><SPAN style="font-family:Arial">IRS Statement-American Rescue Plan Act of 2021</SPAN></SPAN></A></LI> </UL>
</description>
<pubDate>Mon, 15 Mar 2021 20:53:44 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2086696#M750903
</guid>
<dc:creator>DianeW777</dc:creator>
<dc:date>2021-03-15T20:53:44Z</dc:date>
</item>
<item>
<title>Re: TurboTax update to 2021 American Rescue Plan</title>
<link>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2087158#M751060
</link>
<description>
<P>I believe according to other posts, you can only do this if you have the CD/Download version which is what I have purchased. I would like to file electronically and will if Turbo Tax updates their software prior to April 15th.&nbsp;</P>
</description>
<pubDate>Mon, 15 Mar 2021 21:40:18 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2087158#M751060
</guid>
<dc:creator>Wally1600</dc:creator>
<dc:date>2021-03-15T21:40:18Z</dc:date>
</item>
<item>
<title>Re: TurboTax update to 2021 American Rescue Plan</title>
<link>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2087271#M751099
</link>
<description>
<P>Both the Online and Desktop versions are being updated to reflect these changes.&nbsp; No date has been determined as to when this will be completed.&nbsp; &nbsp;You can sign up to receive notifications using the links below.&nbsp; &nbsp;You will be able to e-file.&nbsp; <LI-USER uid="3771143" login="Wally1600"></LI-USER></P> <P>&nbsp;</P> <P><A href="https://ttlc.intuit.com/community/tax-topics/help/how-do-i-get-the-new-unemployment-benefits-if-i-ve-already-filed-my-taxes/00/2081053" target="_blank">How do I get the new unemployment benefits if I’ve already filed my taxes?</A></P> <P>&nbsp;</P> <P><A href="https://ttlc.intuit.com/community/tax-topics/help/how-do-i-claim-the-new-unemployment-benefits-in-turbotax/00/2081055" target="_blank">How do I claim the new unemployment benefits in TurboTax (have not yet filed your 2020 return)?</A></P>
</description>
<pubDate>Mon, 15 Mar 2021 21:51:50 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2087271#M751099
</guid>
<dc:creator>DawnC</dc:creator>
<dc:date>2021-03-15T21:51:50Z</dc:date>
</item>
<item>
<title>Re: TurboTax update to 2021 American Rescue Plan</title>
<link>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2089320#M751951
</link>
<description>
<P><SPAN>"It can take weeks to several months or more for the changes to be made to tax software."</SPAN></P><P>&nbsp;</P><P>So with the understanding that updating TurboTax software will be a lengthy process and with the tax filing deadline quickly approaching (in about 30 days), is the recommendation, then, for everyone to file for an extension?</P>
</description>
<pubDate>Tue, 16 Mar 2021 02:18:51 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2089320#M751951
</guid>
<dc:creator>genez220</dc:creator>
<dc:date>2021-03-16T02:18:51Z</dc:date>
</item>
<item>
<title>Re: TurboTax update to 2021 American Rescue Plan</title>
<link>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2089366#M751974
</link>
<description>
<P><SPAN style="font-size:11pt"><SPAN style="font-family:Calibri,sans-serif"><SPAN style="font-size:10.0pt"><SPAN style="font-family:&quot;Open Sans&quot;,sans-serif"><SPAN style="color:#2e2e2e">If you haven’t filed your 2020 taxes yet and would like to&nbsp;receive progress status updates on the unemployment adjustment, please sign up&nbsp;</SPAN></SPAN></SPAN><A href="https://support.turbotax.intuit.com/forms/containment.jsp?fid=Rene%7C12867%7C" target="_blank"><SPAN style="font-size:10.0pt"><SPAN style="font-family:&quot;Open Sans&quot;,sans-serif"><SPAN style="color:#0363d3">here</SPAN></SPAN></SPAN></A><SPAN style="font-size:10.0pt"><SPAN style="font-family:&quot;Open Sans&quot;,sans-serif"><SPAN style="color:#2e2e2e">.&nbsp;</SPAN></SPAN></SPAN></SPAN></SPAN></P> <P>&nbsp;</P> <P><SPAN style="font-size:11pt"><SPAN style="font-family:Calibri,sans-serif"><SPAN style="font-size:10.0pt"><SPAN style="font-family:&quot;Open Sans&quot;,sans-serif"><SPAN style="color:#2e2e2e">IRS is very busy and they have to give the software companies guidance on how to make changes in their software and when it is available, and hopefully how to make it e-fileable since IRS is still processing 2019 paper returns filed last year.</SPAN></SPAN></SPAN></SPAN></SPAN></P> <P>&nbsp;</P> <P><SPAN style="color:#2e2e2e; font-family:Open Sans, sans-serif"><SPAN style="font-size:13.3333px">We recommend waiting for IRS guidance on this before filing.</SPAN></SPAN></P>
</description>
<pubDate>Tue, 16 Mar 2021 02:31:31 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2089366#M751974
</guid>
<dc:creator>gloriah5200</dc:creator>
<dc:date>2021-03-16T02:31:31Z</dc:date>
</item>
<item>
<title>Re: TurboTax update to 2021 American Rescue Plan</title>
<link>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2089624#M752056
</link>
<description>
<P>All the descriptors say if your AGI is less than $150,000 the $10,200 tax free exclusion can be applied but its not clear when filing jointly married. For this specific determination,&nbsp; is the $150,000 threshold our combined AGI or each&nbsp; individual AGI if filing jointly married?</P>
</description>
<pubDate>Tue, 16 Mar 2021 03:31:51 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2089624#M752056
</guid>
<dc:creator>ciaoskip</dc:creator>
<dc:date>2021-03-16T03:31:51Z</dc:date>
</item>
<item>
<title>Re: TurboTax update to 2021 American Rescue Plan</title>
<link>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2089651#M752064
</link>
<description>
<P>$150,000 is the total joint income on a married filing joint income tax return.</P> <P>&nbsp;</P> <P>The IRS says:</P> <P>&nbsp;</P> <P>Generally, if you are a U.S. citizen or U.S. resident alien, you are eligible for the full amount of the third Economic Impact Payment if you (and your spouse if filing a joint return) are not a dependent of another taxpayer and have a valid Social Security number (see exception when married filing jointly) and your adjusted gross income (AGI) on their tax return does not exceed:</P> <UL> <LI>$150,000 if married and filing a joint return or if filing as a qualifying widow or widower</LI> <LI>$112,500 if filing as head of household or</LI> <LI>$75,000 for eligible individuals using any other filing statuses, such as single filers and married people filing separate returns.</LI> </UL> <P>Payments will be phased out – or reduced -- above those AGI amounts. This means taxpayers will not receive a third payment if their AGI exceeds:</P> <UL> <LI>$160,000 if married and filing a joint return or if filing as a qualifying widow or widower</LI> <LI>$120,000 if filing as head of household or</LI> <LI>$80,000 for eligible individuals using other filing statuses, such as single filers and married people filing separate returns.</LI> </UL> <P>For example, a single person with no dependents and an AGI of $77,500 will normally get a $700 payment (half the full amount). A married couple with two dependents and an AGI of $155,000 will generally get a payment of $2,800 (again, half the full amount). Filers with incomes of at least $80,000 (single and married filing separately), $120,000 (head of household) and $160,000 (married filing joint and surviving spouse) will get no payment based on the law.</P> <P>&nbsp;</P> <P>Related Resource:</P> <UL> <LI><A href="https://www.irs.gov/newsroom/more-details-about-the-third-round-of-economic-impact-payments" target="_blank">Who is eligible for the third Economic Impact Payment and what incomes qualify?</A></LI> </UL>
</description>
<pubDate>Tue, 16 Mar 2021 03:39:05 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2089651#M752064
</guid>
<dc:creator>ErnieS0</dc:creator>
<dc:date>2021-03-16T03:39:05Z</dc:date>
</item>
<item>
<title>Re: TurboTax update to 2021 American Rescue Plan</title>
<link>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2091447#M752626
</link>
<description>
<P>I went to line 22 of other taxable income worksheet type in UCE&nbsp; &nbsp;use the minus sign not parenthesis&nbsp; &nbsp;-10,200 and it will show in red.&nbsp; &nbsp;I takes it to the schedule 1 and the 1040</P>
</description>
<pubDate>Tue, 16 Mar 2021 15:37:51 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2091447#M752626
</guid>
<dc:creator>whatabigbaby</dc:creator>
<dc:date>2021-03-16T15:37:51Z</dc:date>
</item>
<item>
<title>Re: TurboTax update to 2021 American Rescue Plan</title>
<link>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2091910#M752797
</link>
<description>
<P>This is great if you use the paper forms but what about turbo tax?&nbsp; Has the online been updated or still waiting?</P>
</description>
<pubDate>Tue, 16 Mar 2021 16:37:10 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2091910#M752797
</guid>
<dc:creator>mh8279</dc:creator>
<dc:date>2021-03-16T16:37:10Z</dc:date>
</item>
<item>
<title>Re: TurboTax update to 2021 American Rescue Plan</title>
<link>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2091923#M752803
</link>
<description>
<BLOCKQUOTE><HR /><LI-USER uid="3819054"></LI-USER>&nbsp;wrote:<BR /> <P>This is great if you use the paper forms but what about turbo tax?&nbsp; Has the online been updated or still waiting?</P> <HR /></BLOCKQUOTE> <P>See this TurboTax support FAQ for information for the unemployment compensation exclusion -&nbsp;<A href="https://ttlc.intuit.com/community/tax-topics/help/how-do-i-claim-the-new-unemployment-benefits-in-turbotax/00/2081055" target="_blank" rel="noopener">https://ttlc.intuit.com/community/tax-topics/help/how-do-i-claim-the-new-unemployment-benefits-in-tu...</A></P> <P>&nbsp;</P> <P><SPAN>Also see this IRS statement -&nbsp;<A href="https://www.irs.gov/newsroom/irs-statement-american-rescue-plan-act-of-2021" target="_blank" rel="noopener nofollow noopener noreferrer noopener noreferrer">https://www.irs.gov/newsroom/irs-statement-american-rescue-plan-act-of-2021</A></SPAN></P>
</description>
<pubDate>Tue, 16 Mar 2021 16:38:41 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2091923#M752803
</guid>
<dc:creator>DoninGA</dc:creator>
<dc:date>2021-03-16T16:38:41Z</dc:date>
</item>
<item>
<title>Re: TurboTax update to 2021 American Rescue Plan</title>
<link>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2092075#M752853
</link>
<description>
<P>Here is a comprehensive list of federal and state forms availability across TurboTax products.</P> <P><SPAN style="font-size:11.0pt"><SPAN style="font-family:Calibri"><A href="https://care-cdn.prodsupportsite.a.intuit.com/forms-availability/turbotax_fed_online_individual.html" target="_blank">Federal Individual Forms Availability (intuit.com)</A></SPAN></SPAN></P> <P><SPAN style="font-size:11.0pt"><SPAN style="font-family:Calibri">&nbsp;</SPAN></SPAN></P> <P><SPAN style="font-size:11.0pt"><SPAN style="font-family:Calibri">State <A href="https://care-cdn.prodsupportsite.a.intuit.com/forms-availability/turbotax_states_online_individual.html" target="_blank">https://care-cdn.prodsupportsite.a.intuit.com/forms-availability/turbotax_states_online_individual.html</A></SPAN></SPAN></P> <P><SPAN style="font-size:11.0pt"><SPAN style="font-family:Calibri">&nbsp;</SPAN></SPAN></P> <P><SPAN style="font-size:9.75pt"><SPAN style="font-family:&quot;Open Sans&quot;"><SPAN style="color:#2d3338">State forms availability table for TurboTax individual (personal) tax products</SPAN></SPAN></SPAN></P> <P><SPAN style="font-size:9.75pt"><SPAN style="font-family:&quot;Open Sans&quot;"><SPAN style="color:#2d3338">Select your situation to locate your 2020 form.</SPAN></SPAN></SPAN></P> <UL> <LI><A href="https://care-cdn.prodsupportsite.a.intuit.com/forms-availability/turbotax_states_online_individual.html" target="_blank"><SPAN style="font-size:9.75pt"><SPAN style="font-family:&quot;Open Sans&quot;">TurboTax Online/Mobile</SPAN></SPAN></A><SPAN style="font-size:9.75pt"><SPAN style="font-family:&quot;Open Sans&quot;"><SPAN style="color:#2d3338">&nbsp;(web, iOS or Android)</SPAN></SPAN></SPAN></LI> <LI><A href="https://care-cdn.prodsupportsite.a.intuit.com/forms-availability/turbotax_states_windows_individual.html" target="_blank"><SPAN style="font-size:9.75pt"><SPAN style="font-family:&quot;Open Sans&quot;">TurboTax CD/Download for Windows</SPAN></SPAN></A></LI> <LI><A href="https://care-cdn.prodsupportsite.a.intuit.com/forms-availability/turbotax_states_mac_individual.html" target="_blank"><SPAN style="font-size:9.75pt"><SPAN style="font-family:&quot;Open Sans&quot;">TurboTax CD/Download for Mac</SPAN></SPAN></A></LI> </UL> <P><SPAN style="font-size:9.75pt"><SPAN style="font-family:&quot;Open Sans&quot;"><SPAN style="color:#2d3338">Keep in mind:</SPAN></SPAN></SPAN></P> <UL> <LI><SPAN style="font-size:9.75pt"><SPAN style="font-family:&quot;Open Sans&quot;">When you locate your form or schedule, there will be dates for both Print and (depending on the state and the form) E-file availability. If the E-file form is listed as&nbsp;</SPAN></SPAN><SPAN style="font-size:9.75pt"><EM><SPAN style="font-family:&quot;Open Sans&quot;">unsupported</SPAN></EM></SPAN><SPAN style="font-size:9.75pt"><SPAN style="font-family:&quot;Open Sans&quot;">, the form must be printed and you'll need to mail your return.</SPAN></SPAN></LI> <LI><SPAN style="font-size:9.75pt"><SPAN style="font-family:&quot;Open Sans&quot;">Forms and schedules missing from the table aren't supported in TurboTax.</SPAN></SPAN></LI> </UL> <P><SPAN style="font-size:9.75pt"><SPAN style="font-family:&quot;Open Sans&quot;"><SPAN style="color:#2d3338">Related Information:</SPAN></SPAN></SPAN></P> <UL> <LI><A href="https://ttlc.intuit.com/community/forms/help/irs-forms-availability-table-for-turbotax-individual-personal-tax-products/00/26224" target="_blank"><SPAN style="font-size:9.75pt"><SPAN style="font-family:&quot;Open Sans&quot;">IRS forms availability table for TurboTax individual (personal) tax products</SPAN></SPAN></A></LI> <LI><A href="https://ttlc.intuit.com/community/forms/help/state-forms-availability-table-for-turbotax-business/00/26226" target="_blank"><SPAN style="font-size:9.75pt"><SPAN style="font-family:&quot;Open Sans&quot;">State forms availability table for TurboTax Business</SPAN></SPAN></A></LI> <LI><A href="https://ttlc.intuit.com/community/forms/help/which-irs-forms-are-not-included-in-turbotax/00/25551" target="_blank"><SPAN style="font-size:9.75pt"><SPAN style="font-family:&quot;Open Sans&quot;">Which IRS forms are not included in TurboTax?</SPAN></SPAN></A></LI> <LI><A href="https://ttlc.intuit.com/community/choosing-a-product/help/are-there-any-personal-individual-tax-situations-or-calculations-that-turbotax-doesn-t-handle/00/26220" target="_blank"><SPAN style="font-size:9.75pt"><SPAN style="font-family:&quot;Open Sans&quot;">Are there any personal (individual) tax situations or calculations that TurboTax doesn't handle?</SPAN></SPAN></A></LI> </UL> <P><SPAN style="font-size:9.75pt"><SPAN style="font-family:&quot;Open Sans&quot;">@</SPAN></SPAN>DoninGA</P>
</description>
<pubDate>Tue, 16 Mar 2021 16:56:05 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2092075#M752853
</guid>
<dc:creator>ReneeM7122</dc:creator>
<dc:date>2021-03-16T16:56:05Z</dc:date>
</item>
<item>
<title>Re: TurboTax update to 2021 American Rescue Plan</title>
<link>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2094529#M753778
</link>
<description>
<P><SPAN>The filing deadline for tax returns has been extended from&nbsp;</SPAN><STRONG>April 15</STRONG><SPAN>&nbsp;to July 15, 2020. The IRS urges taxpayers who are owed a refund to file as quickly as possible.</SPAN></P>
</description>
<pubDate>Tue, 16 Mar 2021 22:27:32 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2094529#M753778
</guid>
<dc:creator>JTom</dc:creator>
<dc:date>2021-03-16T22:27:32Z</dc:date>
</item>
<item>
<title>Re: TurboTax update to 2021 American Rescue Plan</title>
<link>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2094579#M753799
</link>
<description>
<BLOCKQUOTE><HR /><LI-USER uid="3825405"></LI-USER>&nbsp;wrote:<BR /> <P><SPAN>The filing deadline for tax returns has been extended from&nbsp;</SPAN><STRONG>April 15</STRONG><SPAN>&nbsp;to July 15, 2020. The IRS urges taxpayers who are owed a refund to file as quickly as possible.</SPAN></P> <HR /></BLOCKQUOTE> <P>The date of <SPAN>June 15, 2021&nbsp;</SPAN>for filing a federal tax return is <U><STRONG>only</STRONG></U> for Texas affected by the Ice Storm.</P> <P><A href="https://www.irs.gov/newsroom/irs-announces-tax-relief-for-texas-severe-winter-storm-victims" target="_blank">https://www.irs.gov/newsroom/irs-announces-tax-relief-for-texas-severe-winter-storm-victims</A></P>
</description>
<pubDate>Tue, 16 Mar 2021 22:36:16 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2094579#M753799
</guid>
<dc:creator>DoninGA</dc:creator>
<dc:date>2021-03-16T22:36:16Z</dc:date>
</item>
<item>
<title>Re: TurboTax update to 2021 American Rescue Plan</title>
<link>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2094581#M753801
</link>
<description>
<P><SPAN style="font-size:14px"><SPAN style="font-family:Arial,Helvetica,sans-serif">The last post was for 2020. The filing deadline will probably be extended for&nbsp;this year also.</SPAN></SPAN></P>
</description>
<pubDate>Tue, 16 Mar 2021 22:36:36 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2094581#M753801
</guid>
<dc:creator>pattif12</dc:creator>
<dc:date>2021-03-16T22:36:36Z</dc:date>
</item>
<item>
<title>Re: TurboTax update to 2021 American Rescue Plan</title>
<link>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2096436#M754510
</link>
<description>
<P>it would be great if TT would provide answers instead of the same links over and over that tell us nothing.&nbsp; We realize this is an unusual circumstance but honestly, we've had it with the uncertainly over the last year.&nbsp; If TT wants to retain customers, it's time to step up and give real answers and begin assisting us with real information.&nbsp; It's not like this new tax bill came out of the blue yesterday.&nbsp;&nbsp;</P>
</description>
<pubDate>Wed, 17 Mar 2021 03:43:50 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2096436#M754510
</guid>
<dc:creator>SunnyOregon</dc:creator>
<dc:date>2021-03-17T03:43:50Z</dc:date>
</item>
<item>
<title>Re: TurboTax update to 2021 American Rescue Plan</title>
<link>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2096575#M754563
</link>
<description>
<P>Our software at the CPA firm updated yesterday. We use Drake. This change was known to be coming for quite some time. Let's hope intuit was working on this when they heard about the change. Do not change your amount that could cause a red flag. The $10,200 credit will appear on a schedule 1. It will adjust your adjusted gross income. Now we wait.&nbsp;</P>
</description>
<pubDate>Wed, 17 Mar 2021 04:11:52 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2096575#M754563
</guid>
<dc:creator>Justsmyl</dc:creator>
<dc:date>2021-03-17T04:11:52Z</dc:date>
</item>
<item>
<title>Re: TurboTax update to 2021 American Rescue Plan</title>
<link>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2099502#M755623
</link>
<description>
<P><A href="https://www.cnbc.com/2021/03/17/turbotax-hr-block-need-time-for-tweaks-to-10200-unemployment-tax-break.html" target="_blank">https://www.cnbc.com/2021/03/17/turbotax-hr-block-need-time-for-tweaks-to-10200-unemployment-tax-break.html</A></P><P>&nbsp;</P><P>According to this article, TT might have the changes implemented by Thursday (March 18) night.</P>
</description>
<pubDate>Wed, 17 Mar 2021 17:59:12 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2099502#M755623
</guid>
<dc:creator>cmBarron</dc:creator>
<dc:date>2021-03-17T17:59:12Z</dc:date>
</item>
<item>
<title>Re: TurboTax update to 2021 American Rescue Plan</title>
<link>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2099526#M755634
</link>
<description>
<P><LI-USER uid="3787173"></LI-USER>&nbsp;Thank you for posting that.&nbsp; &nbsp; If that is accurate we will ALL rejoice so that users can file!&nbsp; &nbsp;</P>
</description>
<pubDate>Wed, 17 Mar 2021 18:02:26 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2099526#M755634
</guid>
<dc:creator>xmasbaby0</dc:creator>
<dc:date>2021-03-17T18:02:26Z</dc:date>
</item>
<item>
<title>Re: TurboTax update to 2021 American Rescue Plan</title>
<link>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2101829#M756497
</link>
<description>
<P>I NEED to be emailed when the New Update to the Software for the Unemployment Exclusion is READY&nbsp; &nbsp;</P><P>&nbsp;&nbsp;</P><P>My email address is&nbsp; &nbsp;[email address removed]</P><P>&nbsp;</P><P>THank you</P>
</description>
<pubDate>Wed, 17 Mar 2021 23:50:24 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2101829#M756497
</guid>
<dc:creator>dyoung9080a</dc:creator>
<dc:date>2021-03-17T23:50:24Z</dc:date>
</item>
<item>
<title>Re: TurboTax update to 2021 American Rescue Plan</title>
<link>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2101841#M756501
</link>
<description>
<P>If the Software change is not made before the April 15 deadline,&nbsp; What are we supposted to do???????????</P><P>&nbsp;</P><P>&nbsp;</P><P>my email&nbsp; &nbsp;[email address removed]</P>
</description>
<pubDate>Wed, 17 Mar 2021 23:52:56 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2101841#M756501
</guid>
<dc:creator>dyoung9080a</dc:creator>
<dc:date>2021-03-17T23:52:56Z</dc:date>
</item>
<item>
<title>Re: TurboTax update to 2021 American Rescue Plan</title>
<link>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2101849#M756504
</link>
<description>
<P>The filing deadline has been extended to May 15.</P> <P>&nbsp;</P> <P>&nbsp;</P> <P class="p1"><A href="https://ttlc.intuit.com/community/tax-topics/help/how-will-the-stimulus-package-impact-me/01/1393859#U1393859" target="_blank">https://ttlc.intuit.com/community/tax-topics/help/how-will-the-stimulus-package-impact-me/01/1393859#U1393859</A></P> <P class="p2">&nbsp;</P> <P class="p1">You are among millions who have now been affected by a mid-tax season change in the tax law.<SPAN class="Apple-converted-space">&nbsp; </SPAN>Patience will be necessary.</P> <P class="p1">TurboTax will update the software for the unemployment but there is no timeline yet.</P> <P class="p3"><SPAN class="Apple-converted-space">&nbsp; </SPAN>If you have not e-filed yet—-wait. <SPAN class="Apple-converted-space">&nbsp; </SPAN>And if you already e-filed and want to amend for this—WAIT.</P> <P class="p4">&nbsp;</P> <P class="p3"><SPAN class="s1"><A href="https://ttlc.intuit.com/community/tax-topics/help/how-do-i-get-the-new-unemployment-benefits-if-i-ve-already-filed-my-taxes/00/2081053" target="_blank">https://ttlc.intuit.com/community/tax-topics/help/how-do-i-get-the-new-unemployment-benefits-if-i-ve-already-filed-my-taxes/00/2081053</A></SPAN></P> <P class="p4">&nbsp;</P> <P class="p4">&nbsp;</P> <P class="p3">Please read this very recent news from the IRS:</P> <P class="p4">&nbsp;</P> <P class="p3"><A href="https://www.irs.gov/newsroom/irs-statement-american-rescue-plan-act-of-2021" target="_blank">https://www.irs.gov/newsroom/irs-statement-american-rescue-plan-act-of-2021</A></P> <P>&nbsp;</P>
</description>
<pubDate>Wed, 17 Mar 2021 23:53:59 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2101849#M756504
</guid>
<dc:creator>xmasbaby0</dc:creator>
<dc:date>2021-03-17T23:53:59Z</dc:date>
</item>
<item>
<title>Re: TurboTax update to 2021 American Rescue Plan</title>
<link>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2103100#M756949
</link>
<description>
<P>Y'all TurboTax emailed me *this morning* saying the changes will be made to their filing software this Friday 3/19.</P><P>&nbsp;</P><P>I'm sure everyone who was too impatient is all mad now lol.&nbsp;&nbsp;</P><P>&nbsp;</P><P>Here's the email BTW :</P><P>&nbsp;</P><P><SPAN>Dear TurboTax Customer,</SPAN><BR /><SPAN>&nbsp;</SPAN><BR /><SPAN>We're working around-the-clock to make updates to TurboTax based on the recently-enacted American Rescue Plan so you can file with confidence and get your maximum refund.</SPAN><BR /><SPAN>&nbsp;</SPAN><BR /><SPAN>You indicated a preference to wait for a product update related to Unemployment benefits. Because of this, we're informing you we expect TurboTax to be updated on Friday (3/19) to include the new federal tax relief calculations. Please login to your TurboTax account to continue when you are ready.</SPAN><BR /><SPAN>&nbsp;</SPAN><BR /><SPAN>Thank you for being a TurboTax customer.</SPAN><BR /><SPAN>&nbsp;</SPAN><BR /><SPAN>Sincerely,</SPAN><BR /><SPAN>The TurboTax Care Team</SPAN></P>
</description>
<pubDate>Thu, 18 Mar 2021 05:23:38 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2103100#M756949
</guid>
<dc:creator>dollheaddemon</dc:creator>
<dc:date>2021-03-18T05:23:38Z</dc:date>
</item>
<item>
<title>Re: TurboTax update to 2021 American Rescue Plan</title>
<link>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2106149#M758044
</link>
<description>
<P>Making an entry on line 8 of the Worksheet for Schedule 1 will reduce the taxable portion of unemployment benefits.&nbsp; It does this by reducing the Adjusted Gross Income.&nbsp; This might give an accurate picture of tax liability for many people.&nbsp; However, for persons who purchase their health insurance through the Federal Government's Insurance Marketplace, this could be a problem.&nbsp; It's my understanding that the amount of insurance premium credit/assistance is based on ALL household income.&nbsp; This would include the non-taxable portion of unemployment benefits.&nbsp; My concern is that reducing the Adjustable Gross Income would create an understatement of income, resulting in a false overpayment of premium and an incorrect refund of premiums.&nbsp; &nbsp; &nbsp;&nbsp;</P>
</description>
<pubDate>Thu, 18 Mar 2021 20:58:45 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2106149#M758044
</guid>
<dc:creator>skibum11</dc:creator>
<dc:date>2021-03-18T20:58:45Z</dc:date>
</item>
<item>
<title>Re: TurboTax update to 2021 American Rescue Plan</title>
<link>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2106695#M758244
</link>
<description>
<P>WHEN CAN I UPDATE TO RECEIVE THE AMERICA RESCUE PLAN?</P>
</description>
<pubDate>Thu, 18 Mar 2021 22:41:28 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2106695#M758244
</guid>
<dc:creator>glotac2019</dc:creator>
<dc:date>2021-03-18T22:41:28Z</dc:date>
</item>
<item>
<title>Re: TurboTax update to 2021 American Rescue Plan</title>
<link>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2106697#M758246
</link>
<description>
<P>Yikes! I hadn't heard that! If that is the case, then we will still owe a huge amount of money because the unemployment income puts us over the ACA cliff. We will have to repay every penny of our ACA discount if that is how it is going to work, so we are going to owe mid-5 digits of taxes! If the untaxable portion of unemployment doesn't count towards our income for ACA discount qualifications, then that pulls us back from that cliff and we will only have to repay about $2K of our ACA discount, and only mid-4 digits in total taxes.</P>
</description>
<pubDate>Thu, 18 Mar 2021 22:41:45 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2106697#M758246
</guid>
<dc:creator>cmBarron</dc:creator>
<dc:date>2021-03-18T22:41:45Z</dc:date>
</item>
<item>
<title>Re: TurboTax update to 2021 American Rescue Plan</title>
<link>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2106705#M758251
</link>
<description>
<P>I just started the software. &nbsp;It downloaded and installed Delaware program updates&nbsp;</P><P>&nbsp;</P><P>need instructions to do my unemployment exclusion for the 10,200. savings.&nbsp;<BR /><BR /></P><P>&nbsp;</P><P>Help ????</P>
</description>
<pubDate>Thu, 18 Mar 2021 22:43:04 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2106705#M758251
</guid>
<dc:creator>dyoung9080a</dc:creator>
<dc:date>2021-03-18T22:43:04Z</dc:date>
</item>
<item>
<title>Re: TurboTax update to 2021 American Rescue Plan</title>
<link>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2106792#M758292
</link>
<description>
<P>My post is only my "understanding" of ACA.&nbsp; I'm by no stretch an expert.&nbsp; Best thing to do is contact the Insurance Marketplace or your insurance advisor for guidance.&nbsp; I'm going to.&nbsp; As a test, I updated my income data in TT to adjust for the non-taxable portion of unemployment benefits, and the difference in liability/refund was huge.&nbsp; I'm just not sure it's correct.&nbsp; &nbsp;&nbsp;</P>
</description>
<pubDate>Thu, 18 Mar 2021 23:01:26 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2106792#M758292
</guid>
<dc:creator>skibum11</dc:creator>
<dc:date>2021-03-18T23:01:26Z</dc:date>
</item>
<item>
<title>Re: TurboTax update to 2021 American Rescue Plan</title>
<link>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2106940#M758343
</link>
<description>
<P>Yeah, I did the manual adjustment of my unemployment, too, and, like you, the tax owed was different by a whole decimal place.</P>
</description>
<pubDate>Thu, 18 Mar 2021 23:27:48 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2106940#M758343
</guid>
<dc:creator>cmBarron</dc:creator>
<dc:date>2021-03-18T23:27:48Z</dc:date>
</item>
<item>
<title>Re: TurboTax update to 2021 American Rescue Plan</title>
<link>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2107071#M758386
</link>
<description>
<P>That is great news!&nbsp; Wonder why I didn't receive that email since I signed up for the notification.&nbsp; Oh well, thanks for posting!&nbsp; Could I ask if you would post if the software is updated just in case I don't get an eamil.&nbsp; Thanks again.</P>
</description>
<pubDate>Thu, 18 Mar 2021 23:52:26 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2107071#M758386
</guid>
<dc:creator>mh8279</dc:creator>
<dc:date>2021-03-18T23:52:26Z</dc:date>
</item>
<item>
<title>Re: TurboTax update to 2021 American Rescue Plan</title>
<link>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2107085#M758392
</link>
<description>
<P><LI-USER uid="611422" login="dollheaddemon"></LI-USER></P><P>Thanks for posting the email you received.&nbsp; I wonder why I didn't receive one since I have signed up for the update.&nbsp; Oh well, thanks again and if you could post that it was updated, I would greatly appreciate it.</P><P>&nbsp;</P><P>&nbsp;</P>
</description>
<pubDate>Thu, 18 Mar 2021 23:54:42 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2107085#M758392
</guid>
<dc:creator>mh8279</dc:creator>
<dc:date>2021-03-18T23:54:42Z</dc:date>
</item>
<item>
<title>Re: TurboTax update to 2021 American Rescue Plan</title>
<link>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2110406#M759509
</link>
<description>
<P>How did you make the adjustment? I'm trying to file online with TT and can't seem to make any adjustments to my 1099-G for the tax credit. This will change our tax situation greatly.&nbsp; Thank you to anyone with any input.&nbsp;</P>
</description>
<pubDate>Fri, 19 Mar 2021 20:10:39 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2110406#M759509
</guid>
<dc:creator>samden13</dc:creator>
<dc:date>2021-03-19T20:10:39Z</dc:date>
</item>
<item>
<title>Re: TurboTax update to 2021 American Rescue Plan</title>
<link>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2110516#M759542
</link>
<description>
<P><SPAN style="font-size:10.5pt"><SPAN style="font-family:Arial"><SPAN style="color:#2e2e2e">The IRS strongly urges taxpayers&nbsp;not to file amended returns&nbsp;related to the new legislative provisions or take other unnecessary steps at this time. The IRS will provide taxpayers with additional guidance on those provisions that could affect their 2020 tax return, including the retroactive provision that makes the first $10,200 of 2020 unemployment benefits nontaxable.</SPAN></SPAN></SPAN></P><P><SPAN style="font-size:10.5pt"><SPAN style="font-family:Arial"><SPAN style="color:#2e2e2e">&nbsp;</SPAN></SPAN></SPAN></P><P><SPAN style="font-size:10.5pt"><SPAN style="font-family:Arial"><SPAN style="color:#2e2e2e">For those who haven't filed yet, the IRS will provide a worksheet for paper filers and work with software industry to update current tax software so that taxpayers can determine how to report their unemployment income on their 2020 tax return.</SPAN></SPAN></SPAN></P><P><SPAN style="font-size:10.5pt"><SPAN style="font-family:Arial"><SPAN style="color:#2e2e2e">&nbsp;</SPAN></SPAN></SPAN></P><P><SPAN style="font-size:10.5pt"><SPAN style="font-family:Arial"><SPAN style="color:#2e2e2e">TurboTax is developing the software required to process all of the new conditions.</SPAN></SPAN></SPAN></P><P><SPAN style="font-size:10.5pt"><SPAN style="font-family:Arial"><SPAN style="color:#2d3338">&nbsp;</SPAN></SPAN></SPAN></P><P><A href="https://ttlc.intuit.com/community/tax-topics/help/how-do-i-get-the-new-unemployment-benefits-if-i-ve-already-filed-my-taxes/00/2081053" target="_blank"><SPAN style="font-size:10.5pt"><SPAN style="font-family:Arial">How do I get the new unemployment benefits if I’ve already filed my taxes?</SPAN></SPAN></A></P><P><A href="https://turbotax.intuit.com/tax-tips/tax-relief/american-rescue-plan-what-does-it-mean-for-you-and-a-third-stimulus-check/L8W2ZwLkK" target="_blank"><SPAN style="font-size:10.5pt"><SPAN style="font-family:Arial">Here is a TurboTax article</SPAN></SPAN></A><SPAN style="font-size:10.5pt"><SPAN style="font-family:Arial"><SPAN style="color:#2d3338">&nbsp;about the American Rescue Plan.</SPAN></SPAN></SPAN></P><P><SPAN style="font-size:10.5pt"><SPAN style="font-family:Arial"><SPAN style="color:#2d3338">@</SPAN></SPAN></SPAN>samden13</P>
</description>
<pubDate>Fri, 19 Mar 2021 20:29:16 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2110516#M759542
</guid>
<dc:creator>ReneeM7122</dc:creator>
<dc:date>2021-03-19T20:29:16Z</dc:date>
</item>
<item>
<title>Re: TurboTax update to 2021 American Rescue Plan</title>
<link>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2110552#M759553
</link>
<description>
<P>We did this edit and sent it our sons claim to the irs.&nbsp; It does seem to fit the requirements:&nbsp;I went to line 22 of other taxable income worksheet type in UCE use the minus sign not parenthesis -10,200 and it will show in red. I takes it to the schedule 1 and the 1040</P>
</description>
<pubDate>Fri, 19 Mar 2021 20:35:14 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2110552#M759553
</guid>
<dc:creator>dh2004</dc:creator>
<dc:date>2021-03-19T20:35:14Z</dc:date>
</item>
<item>
<title>Re: TurboTax update to 2021 American Rescue Plan</title>
<link>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2110564#M759559
</link>
<description>
<P>I would have thought last night's update would have included the most recent unemployment exemption but those changes aren't flowing through to my forms.&nbsp; I manually input the exemption on Schedule 1 as per the IRS instructions as well but am willing to wait a few more days if the next updates will include the exemption.&nbsp; Has anyone had luck with the exemption flowing through without manually entering it?</P>
</description>
<pubDate>Fri, 19 Mar 2021 20:37:56 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2110564#M759559
</guid>
<dc:creator>DGtax</dc:creator>
<dc:date>2021-03-19T20:37:56Z</dc:date>
</item>
<item>
<title>Re: TurboTax update to 2021 American Rescue Plan</title>
<link>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2110606#M759573
</link>
<description>
<P>I'm using the online version and I'm not familiar with how to enter it manually on Schedule 1. I really just want to file my taxes.&nbsp;</P>
</description>
<pubDate>Fri, 19 Mar 2021 20:46:06 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2110606#M759573
</guid>
<dc:creator>samden13</dc:creator>
<dc:date>2021-03-19T20:46:06Z</dc:date>
</item>
<item>
<title>Re: TurboTax update to 2021 American Rescue Plan</title>
<link>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2110829#M759654
</link>
<description>
<P>I just went into my taxes 3/19 after receiving the same email from turbo tax, and no update for the unemployment benefit has been applied.</P>
</description>
<pubDate>Fri, 19 Mar 2021 21:26:22 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2110829#M759654
</guid>
<dc:creator>must</dc:creator>
<dc:date>2021-03-19T21:26:22Z</dc:date>
</item>
<item>
<title>Re: TurboTax update to 2021 American Rescue Plan</title>
<link>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2111257#M759780
</link>
<description>
<P>It seem strange, . .&nbsp; &nbsp;I used to really believe in TurboTax. . .&nbsp;</P><P>I have friends that use Taxslayerpro and they have already implemented the America Rescue Plan changes - -&nbsp; completely. . .&nbsp; SAD. . .&nbsp; &nbsp;</P>
</description>
<pubDate>Fri, 19 Mar 2021 23:00:20 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2111257#M759780
</guid>
<dc:creator>vlincoln</dc:creator>
<dc:date>2021-03-19T23:00:20Z</dc:date>
</item>
<item>
<title>Re: TurboTax update to 2021 American Rescue Plan</title>
<link>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2111528#M759868
</link>
<description>
<P>I was informed a week ago that TT will have completed their update of the&nbsp;<SPAN>recently-enacted American Rescue Plan by</SPAN>&nbsp;Friday (today 3/19/21), and, at that time, I can go ahead and complete filing my taxes.&nbsp; Am I now to understand that&nbsp; because I have not received an email from TT, confirming their update of the&nbsp;<SPAN>recently-enacted American Rescue Plan, I should not proceed with filing my taxes?&nbsp; If so, please let me know at your earliest convenience.&nbsp; I want to put this behind me ASP.</SPAN></P><P><SPAN>Thank you,</SPAN></P><P><SPAN>Steve Ababan&nbsp;</SPAN></P>
</description>
<pubDate>Sat, 20 Mar 2021 00:24:54 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2111528#M759868
</guid>
<dc:creator>lafleurplumeria</dc:creator>
<dc:date>2021-03-20T00:24:54Z</dc:date>
</item>
<item>
<title>Re: TurboTax update to 2021 American Rescue Plan</title>
<link>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2112895#M760379
</link>
<description>
<P>A &nbsp;married couple has a combined AGI &gt;150K, but one spouse has an income &lt;100K including his unemployment payments.</P><P>In past years, they filed tax returns using Married-Filing Jointly status. This year they plan to choose MFS status, and remove $10,200 from the unemployment income in the unemployed spouse’s return, but are not sure about whether the IRS will object.</P><P>What does the TT community think? Your feedback will be appreciated.</P><P><STRONG>&nbsp;</STRONG><STRONG>&nbsp;</STRONG></P><P>FYI: Section 9042 of the American Rescue Plan – 2021 (Suspension of tax on portion of unemployment compensation) only mentions about the 150K threadhold as AGI of the taxpayer, and not the combined AGI of married couples.</P><P>&nbsp;</P><P><STRONG><EM>SEC. 9042: “(c)&nbsp;Special Rule For 2020.—</EM></STRONG></P><P><STRONG><EM>“(1)&nbsp;</EM></STRONG><STRONG><EM>IN GENERAL.—In the case of any taxable year beginning in 2020, if the adjusted gross income of the <U>taxpayer</U> for such taxable year is less than $150,000, the gross income of such taxpayer shall not include so much of the unemployment compensation received by such taxpayer (or, in the case of a joint return, received by each spouse) as does not exceed $10,200.</EM></STRONG></P>
</description>
<pubDate>Sat, 20 Mar 2021 15:07:41 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2112895#M760379
</guid>
<dc:creator>hosituandung</dc:creator>
<dc:date>2021-03-20T15:07:41Z</dc:date>
</item>
<item>
<title>Re: TurboTax update to 2021 American Rescue Plan</title>
<link>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2113276#M760518
</link>
<description>
<P>The American Rescue plans includes a provision for receiving too much tax credits towards Health Coverage on the Affordable Care Act regardless of income. With the the tax deadline fast approaching, when will TurboTax have this information uploaded? TurboTax should be offering direction to their customers so that they can file an extension if needed.&nbsp;</P>
</description>
<pubDate>Sat, 20 Mar 2021 16:41:47 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2113276#M760518
</guid>
<dc:creator>Self Preparer</dc:creator>
<dc:date>2021-03-20T16:41:47Z</dc:date>
</item>
<item>
<title>Re: TurboTax update to 2021 American Rescue Plan</title>
<link>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2116385#M761624
</link>
<description>
<P>The 10,200 exclusion has been implemented but the Premium Tax Credit provision has not. I received a message telling me I'm good to go on the Fed but not the State because the PTC changes have not been implemented. The problem with this very bad advice is the PTC affects your Federal return and could seriously impact your tax due or refund.&nbsp;</P>
</description>
<pubDate>Sun, 21 Mar 2021 14:42:46 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2116385#M761624
</guid>
<dc:creator>craveking</dc:creator>
<dc:date>2021-03-21T14:42:46Z</dc:date>
</item>
<item>
<title>Re: TurboTax update to 2021 American Rescue Plan</title>
<link>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2116687#M761725
</link>
<description>
<P><SPAN style="font-size: 14px;"><SPAN style="font-family: Arial,Helvetica,sans-serif;"><LI-USER uid="3857823"></LI-USER></SPAN></SPAN></P> <P><SPAN style="font-size: 14px;"><SPAN style="font-family: Arial,Helvetica,sans-serif;">The IRS addresses the Premium Tax Credit in this&nbsp;<A href="https://www.irs.gov/affordable-care-act/individuals-and-families/the-premium-tax-credit-the-basics" target="_blank" rel="noopener">IRS FAQ</A>&nbsp;:</SPAN></SPAN></P> <P>&nbsp;</P> <P><SPAN style="font-size: 14px;"><SPAN style="font-family: Arial,Helvetica,sans-serif;"><STRONG><EM>Check Back for Updates to this Page</EM></STRONG></SPAN></SPAN></P> <P>&nbsp;</P> <P><SPAN style="font-size: 14px;"><SPAN style="font-family: Arial,Helvetica,sans-serif;"><EM>We’re reviewing the tax provisions of the American Rescue Plan Act of 2021, signed into law on March 11, 2021. Taxpayers who filed a 2020 tax return and reported an excess advance premium tax credit repayment on Line 29 of Form 8962, Premium Tax Credit, should not file an amended tax return only to get a refund of this amount. The IRS will provide more details soon. For the latest updates, check&nbsp;</EM><A href="https://www.irs.gov/coronavirus-tax-relief-and-economic-impact-payments" target="_blank" rel="noopener">IRS.gov/coronavirus</A><EM>.</EM></SPAN></SPAN></P> <P>[Edited 03/23/2021 7:16 AM PST]</P>
</description>
<pubDate>Tue, 23 Mar 2021 14:17:14 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2116687#M761725
</guid>
<dc:creator>JamesG1</dc:creator>
<dc:date>2021-03-23T14:17:14Z</dc:date>
</item>
<item>
<title>Re: TurboTax update to 2021 American Rescue Plan</title>
<link>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2116868#M761786
</link>
<description>
<P>Why wouldn't TurboTax update their software when ProSeries (Intuit) has been updated the UCE on Friday?</P>
</description>
<pubDate>Sun, 21 Mar 2021 16:53:36 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2116868#M761786
</guid>
<dc:creator>maximgt</dc:creator>
<dc:date>2021-03-21T16:53:36Z</dc:date>
</item>
<item>
<title>Re: TurboTax update to 2021 American Rescue Plan</title>
<link>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2116901#M761801
</link>
<description>
<P><SPAN style="color:null"><SPAN style="font-size:14px"><SPAN style="font-family:Arial,Helvetica,sans-serif">Try doing it now.&nbsp; The online program has been updated to automatically apply the adjustment for unemployment as long as you have entered it in the appropriate section as outlined below.&nbsp; </SPAN></SPAN></SPAN></P> <P>&nbsp;</P> <P><SPAN style="color:null"><SPAN style="font-size:14px"><SPAN style="font-family:Arial,Helvetica,sans-serif">The desktop software is still being updated but you can sign up with the following link for updates.</SPAN></SPAN></SPAN></P> <P>&nbsp;</P> <P><SPAN style="font-size:14px"><SPAN style="font-family:Arial,Helvetica,sans-serif"><A href="https://ttlc.intuit.com/community/tax-topics/help/how-do-i-claim-the-new-unemployment-benefits-in-turbotax/00/2081055" target="_blank"><SPAN style="color:null">Sign up for updates on unemployment benefits</SPAN></A></SPAN></SPAN></P> <P><SPAN style="color:null"><SPAN style="font-size:14px"><SPAN style="font-family:Arial,Helvetica,sans-serif">&nbsp;</SPAN></SPAN></SPAN></P> <P><SPAN style="color:null"><SPAN style="font-size:14px"><SPAN style="font-family:Arial,Helvetica,sans-serif">You will enter the unemployment&nbsp;information in the federal interview section.</SPAN></SPAN></SPAN></P> <OL> <LI><SPAN style="color:null"><SPAN style="font-size:14px"><SPAN style="font-family:Arial,Helvetica,sans-serif">Select&nbsp;<STRONG>Income &amp; Expenses</STRONG></SPAN></SPAN></SPAN></LI> <LI><SPAN style="color:null"><SPAN style="font-size:14px"><SPAN style="font-family:Arial,Helvetica,sans-serif">Scroll down to&nbsp;<STRONG>All Income&nbsp;</STRONG>and select&nbsp;<STRONG>Unemployment</STRONG></SPAN></SPAN></SPAN></LI> <LI><SPAN style="color:null"><SPAN style="font-size:14px"><SPAN style="font-family:Arial,Helvetica,sans-serif">Select&nbsp;<STRONG>Unemployment and paid family leave</STRONG></SPAN></SPAN></SPAN></LI> <LI><SPAN style="color:null"><SPAN style="font-size:14px"><SPAN style="font-family:Arial,Helvetica,sans-serif">You will be able to enter your information from your Form 1099-G&nbsp;</SPAN></SPAN></SPAN></LI> </OL> <P><SPAN style="color:null"><SPAN style="font-size:14px"><SPAN style="font-family:Arial,Helvetica,sans-serif">The adjustment will be reflected on Schedule 1, Line 8G.</SPAN></SPAN></SPAN></P> <P>&nbsp;</P> <P><SPAN style="color:null"><SPAN style="font-size:14px"><SPAN style="font-family:Arial,Helvetica,sans-serif"><IMG alt="Unemployment adjustment" src="https://lithium-response-prod.s3.us-west-2.amazonaws.com/turbotax.response.lithium.com/RESPONSEIMAGE/0492f11d-4547-427b-a32a-098a448bfb3e.default.PNG" style="height:444px; width:512px" /></SPAN></SPAN></SPAN></P> <P>&nbsp;</P> <P><SPAN style="font-size:14px"><SPAN style="font-family:Arial,Helvetica,sans-serif"><A href="https://www.irs.gov/newsroom/irs-statement-american-rescue-plan-act-of-2021" target="_blank"><SPAN style="color:null">IRS Statement on American Rescue Plan</SPAN></A></SPAN></SPAN></P> <P>&nbsp;</P> <P><SPAN style="color:null"><SPAN style="font-size:14px"><SPAN style="font-family:Arial,Helvetica,sans-serif"><LI-USER uid="63969" login="maximgt"></LI-USER></SPAN></SPAN></SPAN></P>
</description>
<pubDate>Sun, 21 Mar 2021 17:00:43 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2116901#M761801
</guid>
<dc:creator>JotikaT2</dc:creator>
<dc:date>2021-03-21T17:00:43Z</dc:date>
</item>
<item>
<title>Re: TurboTax update to 2021 American Rescue Plan</title>
<link>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2116974#M761836
</link>
<description>
<P>The 10,200 reduction has been implemented. I saw it on my return. I also see this message from Intuit on my Turbotax screen. The Advance Premium Tax Credit has not been implemented.</P><P>&nbsp;</P><P>"We’re working quickly to address new tax changes included in the American Rescue Plan Act of 2021 (ARPA), which went into effect March 11, 2021.</P><P>Any unemployment benefits you’re eligible for as part of the ARPA have been added to your federal return. But, because this act was passed so recently, we’re still updating changes for each state and those who were required to repay any of the Advance Premium Tax Credit.</P><P>We expect to have all our updates completed soon, but you don’t have to wait to file your federal return. We'll reach out to you later if changes are needed.<BR />As we continue to work on these updates, we’ll email you if you need to do anything after you file."</P>
</description>
<pubDate>Sun, 21 Mar 2021 17:18:42 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2116974#M761836
</guid>
<dc:creator>craveking</dc:creator>
<dc:date>2021-03-21T17:18:42Z</dc:date>
</item>
<item>
<title>Re: TurboTax update to 2021 American Rescue Plan</title>
<link>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2117015#M761853
</link>
<description>
<P>I do not see the UCE on Schedule 1, and my TT software is up to date.</P>
</description>
<pubDate>Sun, 21 Mar 2021 17:30:01 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2117015#M761853
</guid>
<dc:creator>maximgt</dc:creator>
<dc:date>2021-03-21T17:30:01Z</dc:date>
</item>
<item>
<title>Re: TurboTax update to 2021 American Rescue Plan</title>
<link>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2117048#M761869
</link>
<description>
<P>apparently it's implemented in the online version but not the desktop version. Definitely implemented in my return.</P>
</description>
<pubDate>Sun, 21 Mar 2021 17:36:32 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2117048#M761869
</guid>
<dc:creator>craveking</dc:creator>
<dc:date>2021-03-21T17:36:32Z</dc:date>
</item>
<item>
<title>Re: TurboTax update to 2021 American Rescue Plan</title>
<link>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2117077#M761880
</link>
<description>
<P><SPAN style="color:null"><SPAN style="font-size:14px"><SPAN style="font-family:Arial,Helvetica,sans-serif">The updates have been made for the federal returns using the online program.&nbsp; The updates are being implemented for the desktop software.&nbsp;</SPAN></SPAN></SPAN></P> <P><SPAN style="color:null"><SPAN style="font-size:14px"><SPAN style="font-family:Arial,Helvetica,sans-serif">&nbsp;</SPAN></SPAN></SPAN></P> <P><SPAN style="color:null"><SPAN style="font-size:14px"><SPAN style="font-family:Arial,Helvetica,sans-serif">I recommend signing up for updates using the link below to be notified when the update is completed for the desktop version of the software.</SPAN></SPAN></SPAN></P> <P>&nbsp;</P> <P><SPAN style="font-size:14px"><SPAN style="font-family:Arial,Helvetica,sans-serif"><A href="https://ttlc.intuit.com/community/tax-topics/help/how-do-i-claim-the-new-unemployment-benefits-in-turbotax/00/2081055" target="_blank"><SPAN style="color:null">Unemployment update for desktop</SPAN></A></SPAN></SPAN></P> <P><SPAN style="color:null"><SPAN style="font-size:14px"><SPAN style="font-family:Arial,Helvetica,sans-serif">&nbsp;</SPAN></SPAN></SPAN></P> <P><SPAN style="color:null"><SPAN style="font-size:14px"><SPAN style="font-family:Arial,Helvetica,sans-serif">Please see the following link as well for updated information as it is released.</SPAN></SPAN></SPAN></P> <P><SPAN style="color:null"><SPAN style="font-size:14px"><SPAN style="font-family:Arial,Helvetica,sans-serif">&nbsp;</SPAN></SPAN></SPAN></P> <P><SPAN style="font-size:14px"><SPAN style="font-family:Arial,Helvetica,sans-serif"><A href="https://ttlc.intuit.com/community/tax-topics/help/how-will-the-stimulus-package-impact-me/00/1393859" target="_blank"><SPAN style="color:null">How will the 3rd stimulus affect me</SPAN></A></SPAN></SPAN></P> <P>&nbsp;</P> <P><SPAN style="color:null"><SPAN style="font-size:14px"><SPAN style="font-family:Arial,Helvetica,sans-serif"><LI-USER uid="63969" login="maximgt"></LI-USER></SPAN></SPAN></SPAN></P> <P>&nbsp;</P>
</description>
<pubDate>Sun, 21 Mar 2021 17:41:49 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2117077#M761880
</guid>
<dc:creator>JotikaT2</dc:creator>
<dc:date>2021-03-21T17:41:49Z</dc:date>
</item>
<item>
<title>Re: TurboTax update to 2021 American Rescue Plan</title>
<link>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2117428#M762005
</link>
<description>
<P>Just finished my taxes on TurboTax Home and Business. And now have to wait to file because TT hasn't updated the software? March 20th already. Unemployment is prepared and working now, Why isn't TT?</P>
</description>
<pubDate>Sun, 21 Mar 2021 19:03:04 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2117428#M762005
</guid>
<dc:creator>JeanieLMM</dc:creator>
<dc:date>2021-03-21T19:03:04Z</dc:date>
</item>
<item>
<title>Re: TurboTax update to 2021 American Rescue Plan</title>
<link>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2117480#M762027
</link>
<description>
<P>As part of the recently passed American Rescue Plan, the first $10,200 worth of unemployment payments are now tax-free for a person with an annual modified adjusted gross income&nbsp;of&nbsp;less than $150,000. This expanded tax relief begins this year, starting for taxpayers filing returns after January 1, 2020.&nbsp;Once the IRS provides additional guidance, TurboTax will be updated to reflect these new tax laws relating to unemployment.&nbsp;</P> <P>&nbsp;</P> <P>If you haven’t filed your 2020 taxes yet and would like to receive progress status updates, please sign up&nbsp;<A href="https://support.turbotax.intuit.com/forms/containment.jsp?fid=Rene%7C18261%7Cd" target="_blank">here.</A>&nbsp;</P>
</description>
<pubDate>Sun, 21 Mar 2021 19:14:37 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2117480#M762027
</guid>
<dc:creator>ErnieS0</dc:creator>
<dc:date>2021-03-21T19:14:37Z</dc:date>
</item>
<item>
<title>Re: TurboTax update to 2021 American Rescue Plan</title>
<link>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2117539#M762047
</link>
<description>
<P>What if I already have a an entry on Schedule 1, line 8 worksheet, then Line 22. additional contribution to HSA. Where do I enter the -10200</P>
</description>
<pubDate>Sun, 21 Mar 2021 19:28:37 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2117539#M762047
</guid>
<dc:creator>JeanieLMM</dc:creator>
<dc:date>2021-03-21T19:28:37Z</dc:date>
</item>
<item>
<title>Re: TurboTax update to 2021 American Rescue Plan</title>
<link>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2117587#M762066
</link>
<description>
<P><LI-USER uid="3855017" login="JeanieLMM"></LI-USER> You do not have to enter a subtraction. TurboTax Online automatically does the calculation for you if you qualify for the $10,200 federal unemployment exemption.</P> <P>&nbsp;</P> <P>If your modified adjusted gross income (AGI) is less than $150,000, the American Rescue Plan enacted on March 11, 2021, excludes from income up to $10,200 of unemployment compensation paid in 2020, which means you don’t have to pay tax on unemployment compensation of up to $10,200. If you are married, each spouse receiving unemployment compensation doesn’t have to pay tax on unemployment compensation of up to $10,200. Amounts over $10,200 for each individual are still taxable. If your modified AGI is $150,000 or more, you can’t exclude any unemployment compensation.</P> <P>&nbsp;</P> <P><SPAN style="font-size:11.0pt"><SPAN style="font-family:Calibri">Related Resource:</SPAN></SPAN></P> <UL> <LI><A href="https://www.irs.gov/faqs/irs-procedures/forms-publications/new-exclusion-of-up-to-10200-of-unemployment-compensation" target="_blank"><SPAN style="font-size:11.0pt"><SPAN style="font-family:Calibri">New Exclusion of up to $10,200 of Unemployment Compensation</SPAN></SPAN></A></LI> </UL> <P><IMG alt="$10,200 exemption" src="https://lithium-response-prod.s3.us-west-2.amazonaws.com/turbotax.response.lithium.com/RESPONSEIMAGE/34c90ccc-6639-4455-8cea-e034b60e1390.default.png" style="height:300px; width:512px" /></P>
</description>
<pubDate>Sun, 21 Mar 2021 19:41:43 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2117587#M762066
</guid>
<dc:creator>ErnieS0</dc:creator>
<dc:date>2021-03-21T19:41:43Z</dc:date>
</item>
<item>
<title>Re: TurboTax update to 2021 American Rescue Plan</title>
<link>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2117693#M762112
</link>
<description>
<P>Expert</P><P>The desk top doesn't have that&nbsp; feature yet.</P>
</description>
<pubDate>Sun, 21 Mar 2021 20:02:02 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2117693#M762112
</guid>
<dc:creator>JeanieLMM</dc:creator>
<dc:date>2021-03-21T20:02:02Z</dc:date>
</item>
<item>
<title>Re: TurboTax update to 2021 American Rescue Plan</title>
<link>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2119872#M762958
</link>
<description>
<P>No you will have to wait.&nbsp; It is not Turbo Tax that is taking so long but the IRS.&nbsp; By just reducing the unemployment by $10,200 is not only incorrect but illegal as you will not have the correct forms.&nbsp; The filing deadline has been extended and by the looks of it you will have plenty of time to file.&nbsp; Or file and once everything is figured out the IRS will probably do the refund for the unemployment instead of having millions do an amended tax return.</P>
</description>
<pubDate>Mon, 22 Mar 2021 08:59:16 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2119872#M762958
</guid>
<dc:creator>Skyraptor</dc:creator>
<dc:date>2021-03-22T08:59:16Z</dc:date>
</item>
<item>
<title>Re: TurboTax update to 2021 American Rescue Plan</title>
<link>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2119883#M762963
</link>
<description>
<P>Better do your math better next time.&nbsp; It would be a refund of $1,020 for the Federal Tax of $10,200 based on 10% withholding, not $1,200.</P>
</description>
<pubDate>Mon, 22 Mar 2021 09:27:08 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2119883#M762963
</guid>
<dc:creator>Skyraptor</dc:creator>
<dc:date>2021-03-22T09:27:08Z</dc:date>
</item>
<item>
<title>Re: TurboTax update to 2021 American Rescue Plan</title>
<link>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2120450#M763145
</link>
<description>
<P>It has now been updated to reflect the forgiveness on paying taxes for the first $10,200.00 of unemployment.</P>
</description>
<pubDate>Mon, 22 Mar 2021 14:28:02 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2120450#M763145
</guid>
<dc:creator>Oii</dc:creator>
<dc:date>2021-03-22T14:28:02Z</dc:date>
</item>
<item>
<title>Re: TurboTax update to 2021 American Rescue Plan</title>
<link>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2120486#M763154
</link>
<description>
<P>I started my TT software on my desktop, and the update did not kick in :(</img></P>
</description>
<pubDate>Mon, 22 Mar 2021 14:36:34 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2120486#M763154
</guid>
<dc:creator>maximgt</dc:creator>
<dc:date>2021-03-22T14:36:34Z</dc:date>
</item>
<item>
<title>Re: TurboTax update to 2021 American Rescue Plan</title>
<link>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2120488#M763155
</link>
<description>
<P>You are correct, the American rescue plan excludes taxes&nbsp;for the first $10,200.00 of unemployment benefits, and TurboTax has been updated to reflect that.</P> <P>&nbsp;</P> <P><SPAN style="font-size:11.0pt"><SPAN style="font-family:Calibri"><A href="https://turbotax.intuit.com/tax-tips/tax-relief/american-rescue-plan-what-does-it-mean-for-you-and-a-third-stimulus-check/L8W2ZwLkK" target="_blank">Here is a TurboTax article</A> about the American Rescue Plan.</SPAN></SPAN></P> <P><SPAN style="font-size:11.0pt"><SPAN style="font-family:Calibri">&nbsp;</SPAN></SPAN></P> <P><SPAN style="font-size:9.75pt"><SPAN style="font-family:&quot;Open Sans&quot;"><SPAN style="color:#2e2e2e">The IRS is reviewing implementation plans for the newly enacted American Rescue Plan Act of 2021.&nbsp; If anything else that affects you does not seem to be working just yet in the software, t</SPAN></SPAN></SPAN><SPAN style="font-size:9.75pt"><SPAN style="font-family:&quot;Open Sans&quot;"><SPAN style="color:#2e2e2e">he IRS strongly urges taxpayers&nbsp;not to file amended returns&nbsp;related to the new legislative provisions or take other unnecessary steps at this time. The IRS will provide taxpayers with additional guidance on those provisions that could affect their 2020 tax return, including the retroactive provision that makes the first $10,200 of 2020 unemployment benefits nontaxable.</SPAN></SPAN></SPAN></P> <P>&nbsp;</P> <P><SPAN style="font-size:9.75pt"><SPAN style="font-family:&quot;Open Sans&quot;"><SPAN style="color:#2e2e2e">&nbsp;</SPAN></SPAN></SPAN><SPAN style="font-size:9.75pt"><SPAN style="font-family:&quot;Open Sans&quot;"><SPAN style="color:#2e2e2e">TurboTax is developing the software required to process all of the new conditions.</SPAN></SPAN></SPAN></P> <P><SPAN style="font-size:9.75pt"><SPAN style="font-family:&quot;Open Sans&quot;"><SPAN style="color:#2e2e2e">@</SPAN></SPAN></SPAN>Oii</P>
</description>
<pubDate>Mon, 22 Mar 2021 14:37:00 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2120488#M763155
</guid>
<dc:creator>ReneeM7122</dc:creator>
<dc:date>2021-03-22T14:37:00Z</dc:date>
</item>
<item>
<title>Re: TurboTax update to 2021 American Rescue Plan</title>
<link>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2120544#M763176
</link>
<description>
<P>Yes, you are right, some aspects of the software are still being developed while TurboTax works with the IRS and receives guidance from them.</P><P><SPAN style="font-size:11.0pt"><SPAN style="font-family:Calibri">&nbsp;</SPAN></SPAN></P><P><SPAN style="font-size:9.75pt"><SPAN style="font-family:&quot;Open Sans&quot;"><SPAN style="color:#2e2e2e">The IRS is reviewing implementation plans for the newly enacted American Rescue Plan Act of 2021. Additional information will be forthcoming.</SPAN></SPAN></SPAN></P><P><SPAN style="font-size:9.75pt"><SPAN style="font-family:&quot;Open Sans&quot;"><SPAN style="color:#2e2e2e">&nbsp;</SPAN></SPAN></SPAN></P><P><SPAN style="font-size:9.75pt"><SPAN style="font-family:&quot;Open Sans&quot;"><SPAN style="color:#2e2e2e">The IRS strongly urges taxpayers&nbsp;not to file amended returns&nbsp;related to the new legislative provisions or take other unnecessary steps at this time. The IRS will provide taxpayers with additional guidance on those provisions that could affect their 2020 tax return, including the retroactive provision that makes the first $10,200 of 2020 unemployment benefits nontaxable.</SPAN></SPAN></SPAN></P><P><SPAN style="font-size:9.75pt"><SPAN style="font-family:&quot;Open Sans&quot;"><SPAN style="color:#2e2e2e">&nbsp;</SPAN></SPAN></SPAN></P><P><SPAN style="font-size:9.75pt"><SPAN style="font-family:&quot;Open Sans&quot;"><SPAN style="color:#2e2e2e">For those who haven't filed yet, the IRS will provide worksheets for paper filers and work with software industry to update current tax software so that taxpayers can determine how to report things affected by the American Rescue Plan on their&nbsp;2020 tax return.</SPAN></SPAN></SPAN></P><P><SPAN style="font-size:9.75pt"><SPAN style="font-family:&quot;Open Sans&quot;"><SPAN style="color:#2e2e2e">&nbsp;</SPAN></SPAN></SPAN></P><P><SPAN style="font-size:9.75pt"><SPAN style="font-family:&quot;Open Sans&quot;"><SPAN style="color:#2e2e2e">TurboTax is developing the software required to process all of the new conditions.</SPAN></SPAN></SPAN></P><P>&nbsp;</P><P><SPAN style="font-size:11.0pt"><SPAN style="font-family:Calibri"><A href="https://turbotax.intuit.com/tax-tips/tax-relief/american-rescue-plan-what-does-it-mean-for-you-and-a-third-stimulus-check/L8W2ZwLkK" target="_blank">Here is a TurboTax article</A> about the American Rescue Plan</SPAN></SPAN></P><P>&nbsp;</P><P><SPAN style="font-size:11.0pt"><SPAN style="font-family:Calibri">@</SPAN></SPAN>maximgt</P>
</description>
<pubDate>Mon, 22 Mar 2021 14:50:07 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2120544#M763176
</guid>
<dc:creator>ReneeM7122</dc:creator>
<dc:date>2021-03-22T14:50:07Z</dc:date>
</item>
<item>
<title>Re: TurboTax update to 2021 American Rescue Plan</title>
<link>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2120670#M763227
</link>
<description>
<P><LI-USER uid="63969"></LI-USER>&nbsp;The CD/download software has not been updated for unemployment yet.&nbsp; &nbsp;They say it will update sometime on 3-26-21.&nbsp; &nbsp; Only online TT has been updated for unemployment so far.</P>
</description>
<pubDate>Mon, 22 Mar 2021 15:16:57 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2120670#M763227
</guid>
<dc:creator>xmasbaby0</dc:creator>
<dc:date>2021-03-22T15:16:57Z</dc:date>
</item>
<item>
<title>Re: TurboTax update to 2021 American Rescue Plan</title>
<link>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2120711#M763240
</link>
<description>
<P>Last week TT said it was coming 3/19.&nbsp;&nbsp;</P>
</description>
<pubDate>Mon, 22 Mar 2021 15:25:02 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2120711#M763240
</guid>
<dc:creator>ossysprog</dc:creator>
<dc:date>2021-03-22T15:25:02Z</dc:date>
</item>
<item>
<title>Re: TurboTax update to 2021 American Rescue Plan</title>
<link>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2122068#M763712
</link>
<description>
<P>My daughter's tax report is showing she can get additional tax relief for the American Rescue Plan because of unemployment. She has been given two options "Continue to File" or "I'll Wait to File". We have used the update feature before but when we update it shows as Updated.</P>
</description>
<pubDate>Mon, 22 Mar 2021 19:09:55 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2122068#M763712
</guid>
<dc:creator>aalaniz</dc:creator>
<dc:date>2021-03-22T19:09:55Z</dc:date>
</item>
<item>
<title>Re: TurboTax update to 2021 American Rescue Plan</title>
<link>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2122137#M763738
</link>
<description>
<P><LI-USER uid="3895822" login="aalaniz"></LI-USER> <STRONG>TurboTax Online</STRONG> has been updated for the exemption of the first $10,200 of income from unemployment. We are still waiting for <STRONG>TurboTax CD\Desktop</STRONG> updates.</P> <P>&nbsp;</P> <P>If your daughter is using TurboTax Online, preview the 1040 before filing to make sure the subtraction is there. If it's not, delete the unemployment and re-enter the information.</P> <UL> <LI><SPAN style="font-size:11.0pt"><SPAN style="font-family:Calibri">Click </SPAN></SPAN><SPAN style="font-size:11.0pt"><STRONG><SPAN style="font-family:Calibri">Tax Tools </SPAN></STRONG></SPAN><SPAN style="font-size:11.0pt"><SPAN style="font-family:Calibri">in the left column.</SPAN></SPAN></LI> <LI><SPAN style="font-size:11.0pt"><SPAN style="font-family:Calibri">Click </SPAN></SPAN><SPAN style="font-size:11.0pt"><STRONG><SPAN style="font-family:Calibri">Tools.</SPAN></STRONG></SPAN></LI> <LI><SPAN style="font-size:11.0pt"><SPAN style="font-family:Calibri">Select </SPAN></SPAN><SPAN style="font-size:11.0pt"><STRONG><SPAN style="font-family:Calibri">View Tax Summary</SPAN></STRONG></SPAN><SPAN style="font-size:11.0pt"><SPAN style="font-family:Calibri"> in the center.</SPAN></SPAN></LI> <LI><SPAN style="font-size:11.0pt"><SPAN style="font-family:Calibri">Go back to the left column. Select </SPAN></SPAN><SPAN style="font-size:11.0pt"><EM><SPAN style="font-family:Calibri">Preview my 1040.</SPAN></EM></SPAN></LI> <LI><SPAN style="font-size:11.0pt"><SPAN style="font-family:Calibri">Form 1040 will display. Use the slider bar to the right of the form to move up and down.</SPAN></SPAN></LI> <LI><SPAN style="font-size:11.0pt"><SPAN style="font-family:Calibri">When you are finished viewing, go back to the left column and select </SPAN></SPAN><SPAN style="font-size:11.0pt"><STRONG><SPAN style="font-family:Calibri">Back.</SPAN></STRONG></SPAN></LI> </UL> <P>&nbsp;</P> <P><IMG src="https://lithium-response-prod.s3.us-west-2.amazonaws.com/turbotax.response.lithium.com/RESPONSEIMAGE/2ab3b5af-c82d-492f-afd4-52cc4c563ce0.default.png" style="height:300px; width:512px" /></P> <P>&nbsp;</P> <P><SPAN style="font-size:11.0pt"><SPAN style="font-family:Calibri">If your modified adjusted gross income (AGI) is less than $150,000, the American Rescue Plan enacted on March 11, 2021, excludes from income up to $10,200 of unemployment compensation paid in 2020, which means you don’t have to pay tax on unemployment compensation of up to $10,200. If you are married, each spouse receiving unemployment compensation doesn’t have to pay tax on unemployment compensation of up to $10,200. Amounts over $10,200 for each individual are still taxable. If your modified AGI is $150,000 or more, you can’t exclude any unemployment compensation.</SPAN></SPAN></P> <P><SPAN style="font-size:11.0pt"><SPAN style="font-family:Calibri">&nbsp;</SPAN></SPAN></P> <P><SPAN style="font-size:11.0pt"><SPAN style="font-family:Calibri">Related Resource:</SPAN></SPAN></P> <UL> <LI><A href="https://www.irs.gov/faqs/irs-procedures/forms-publications/new-exclusion-of-up-to-10200-of-unemployment-compensation" target="_blank"><SPAN style="font-size:11.0pt"><SPAN style="font-family:Calibri">New Exclusion of up to $10,200 of Unemployment Compensation</SPAN></SPAN></A></LI> </UL> <P><SPAN style="font-size:11.0pt"><SPAN style="font-family:Calibri">**Say "Thanks" by clicking the thumb icon in a post</SPAN></SPAN></P> <P><SPAN style="font-size:11.0pt"><SPAN style="font-family:Calibri">**Mark the post that answers your question by clicking on "Mark as Best Answer"</SPAN></SPAN></P>
</description>
<pubDate>Mon, 22 Mar 2021 19:20:40 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2122137#M763738
</guid>
<dc:creator>ErnieS0</dc:creator>
<dc:date>2021-03-22T19:20:40Z</dc:date>
</item>
<item>
<title>Re: TurboTax update to 2021 American Rescue Plan</title>
<link>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2122201#M763760
</link>
<description>
<P><SPAN>Can SOMEONE from Turbotax please inform the customers: when will Turbotax be updated to reflect the new tax provisions in the American Rescue Plan Act? I would've thought TT had these ready to go in the event it passed.</SPAN></P>
</description>
<pubDate>Mon, 22 Mar 2021 19:28:56 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2122201#M763760
</guid>
<dc:creator>fawilson</dc:creator>
<dc:date>2021-03-22T19:28:56Z</dc:date>
</item>
<item>
<title>Re: TurboTax update to 2021 American Rescue Plan</title>
<link>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2122227#M763769
</link>
<description>
<P><SPAN>Would you advise that I just take away $10,200 from my unemployment or wait for the added IRS Tax Form?&nbsp; This deduction from my unemployment will increase my refund.</SPAN></P>
</description>
<pubDate>Mon, 22 Mar 2021 19:34:03 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2122227#M763769
</guid>
<dc:creator>fawilson</dc:creator>
<dc:date>2021-03-22T19:34:03Z</dc:date>
</item>
<item>
<title>Re: TurboTax update to 2021 American Rescue Plan</title>
<link>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2122238#M763773
</link>
<description>
<P>Thank you for the quick advise and reply. Yeah we use the download version so I will have her wait till March 26th for the updates.</P>
</description>
<pubDate>Mon, 22 Mar 2021 19:36:57 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2122238#M763773
</guid>
<dc:creator>aalaniz</dc:creator>
<dc:date>2021-03-22T19:36:57Z</dc:date>
</item>
<item>
<title>Re: TurboTax update to 2021 American Rescue Plan</title>
<link>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2122295#M763797
</link>
<description>
<P>I can't preview my 1040 because I still have not paid for TT. I can see my tax summary and it's not hard to figure out if the UI income exemption has been implemented. But I cannot view individual forms and I'm not going to pay until I know the software has been updated with the premium tax credit as well. Maybe there some trick to seeing individual forms before you pay but I haven't figured it out.</P>
</description>
<pubDate>Mon, 22 Mar 2021 19:48:15 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/taxes/discussion/re-turbotax-update-to-2021-american-rescue-plan/01/2122295#M763797
</guid>
<dc:creator>craveking</dc:creator>
<dc:date>2021-03-22T19:48:15Z</dc:date>
</item>
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