topic I don't see the 10,200 unemployment tax deduction here from the new stimulus? When will it show up? I don't want to complete my taxes without it? in Get your taxes done using TurboTax

I don't see the 10,200 unemployment tax deduction here from the new stimulus? When will it show up? I don't want to complete my taxes without it?

sallycookie82- — Sat, 13 Mar 2021 23:48:06 GMT

Re: I don't see the 10,200 unemployment tax deduction here from the new stimulus? When will it show up? I don't want to complete my taxes without it?

DoninGA — Sat, 13 Mar 2021 23:51:18 GMT

After the legislation has passed Congress and after the President has signed the legislation and after the IRS has written the rules, regulations and procedures. And after the IRS has changed any forms or schedules to accept the tax code changes. And after the IRS has approved the changes in the TurboTax program that apply to the tax code changes, then it will be available for the users of the tax preparation software.

See this TurboTax support FAQ for information on the American Rescue Plan - https://ttlc.intuit.com/community/tax-topics/help/how-will-the-stimulus-package-impact-me/00/1393859

Re: I don't see the 10,200 unemployment tax deduction here from the new stimulus? When will it show up? I don't want to complete my taxes without it?

macuser_22 — Sat, 13 Mar 2021 23:51:29 GMT

Probably a few weeks.

The $10,200 unemployment retroactive to 2020 was just signed into law. Now the IRS is responsible for writing regulations and rules for claiming it.

The IRS has released new instructions for reporting this that should not take very long to incorporate.

https://www.irs.gov/faqs/irs-procedures/forms-publications/new-exclusion-of-up-to-10200-of-unemployment-compensation