topic 1) will turbotax update SW before May 17 to incorporate new rules? 2) can i use irs updated unemployment exclusion form make needed overides and file a paper return? in Get your taxes done using TurboTax

1) will turbotax update SW before May 17 to incorporate new rules? 2) can i use irs updated unemployment exclusion form make needed overides and file a paper return?

Pauldina — Thu, 18 Mar 2021 15:17:30 GMT

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

Re: 1) will turbotax update SW before May 17 to incorporate new rules? 2) can i use irs updated unemployment exclusion form make needed overides and file a paper return?

SweetieJean — Thu, 18 Mar 2021 17:07:07 GMT

TT can't do anything until the IRS issues procedures for all the changes in the new tax law, so please wait a bit. Overrides can void the TT accuracy guaranty. Paper returns take a long time to process (and are subject to keying errors), so I'm sure you would prefer to efile. Also see:

IRS Statement - American Rescue Plan Act of 2021 | Internal Revenue Service

Re: 1) will turbotax update SW before May 17 to incorporate new rules? 2) can i use irs updated unemployment exclusion form make needed overides and file a paper return?

Pauldina — Fri, 09 Apr 2021 13:52:52 GMT

Update:. TT website for unemployment reads that TT is now updated to the unemployment benefit exemption.

https://blog.turbotax.intuit.com/unemployment-benefits/