topic When will the software be updated to allow for the change in unemployment, i.e. $10,200 exemption? in Get your taxes done using TurboTax

When will the software be updated to allow for the change in unemployment, i.e. $10,200 exemption?

johnvitojr — Fri, 19 Mar 2021 14:17:33 GMT

Re: When will the software be updated to allow for the change in unemployment, i.e. $10,200 exemp...

HelenC12 — Fri, 19 Mar 2021 15:39:11 GMT

We expect TurboTax to be updated sometime today, Friday, March 19, 2021, to include the new federal tax relief calculations to exclude $10,200 of unemployment compensation. Sometimes the software change happens at midnight so don't worry if you don't see it right away.

If you haven’t filed your 2020 taxes yet and would like to receive progress status updates, please sign up here.

As part of the recently passed American Rescue Plan, the first $10,200 worth of unemployment payments are now tax-free for households with annual incomes less than $150,000. This expanded tax relief begins this year, starting for taxpayers filing returns after January 1, 2020.

Re: When will the software be updated to allow for the change in unemployment, i.e. $10,200 exemp...

johnvitojr — Sat, 20 Mar 2021 13:58:12 GMT

Thank you HelenC12 ... maybe they are still working on it as there is still no update for it ...

Re: When will the software be updated to allow for the change in unemployment, i.e. $10,200 exemp...

ToddL99 — Sat, 20 Mar 2021 14:09:18 GMT

As soon as the IRS (and states) issues instructions on how to report newly-exempt 2020 unemployment payments, TurboTax will make the necessary updates to its programs.

For customers who have already filed, go to: How do I get the new unemployment benefits if I’ve already filed my taxes? to sign-up for updates

For customers who have not yet filed, go to: How do I claim the new unemployment benefits in TurboTax? to sign-up for updates.

Re: When will the software be updated to allow for the change in unemployment, i.e. $10,200 exemp...

johnvitojr — Sat, 20 Mar 2021 14:14:52 GMT

I was told it was supposed to happen on March 19th ... that did not occur ...

Re: When will the software be updated to allow for the change in unemployment, i.e. $10,200 exemp...

DoninGA — Sat, 20 Mar 2021 14:16:17 GMT

@johnvitojr wrote:

I was told it was supposed to happen on March 19th ... that did not occur ...

The update for the UC exclusion was made available for the TurboTax online editions. It is not currently available for the TurboTax desktop CD/Download editions.

Re: When will the software be updated to allow for the change in unemployment, i.e. $10,200 exemp...

ThatGirlfromDE — Mon, 22 Mar 2021 18:56:48 GMT

So when will the update for UC be available for the TurboTax desktop CD/Download editions?

Re: When will the software be updated to allow for the change in unemployment, i.e. $10,200 exemp...

DoninGA — Mon, 22 Mar 2021 19:23:58 GMT

@ThatGirlfromDE wrote:

So when will the update for UC be available for the TurboTax desktop CD/Download editions?

There is a software update scheduled for 03/25. Wait for the update to see if the UCE is included.