topic Has the online version of Turbotax been updated to deduct $10,200 of unemployment income from federal taxes? in Get your taxes done using TurboTax

Has the online version of Turbotax been updated to deduct $10,200 of unemployment income from federal taxes?

laralw — Sat, 20 Mar 2021 21:47:48 GMT

Re: Has the online version of Turbotax been updated to deduct $10,200 of unemployment income from federal taxes?

VolvoGirl — Sat, 20 Mar 2021 21:50:07 GMT

Yes. But not the Desktop program yet.

Re: Has the online version of Turbotax been updated to deduct $10,200 of unemployment income from federal taxes?

DoninGA — Sat, 20 Mar 2021 21:50:26 GMT

Yes, the TurboTax online editions for the unemployment compensation exclusion were updated on 03/19

Re: Has the online version of Turbotax been updated to deduct $10,200 of unemployment income from federal taxes?

Gma_of_3 — Sun, 21 Mar 2021 21:56:24 GMT

When will the desktop version be updated?

Re: Has the online version of Turbotax been updated to deduct $10,200 of unemployment income from federal taxes?

VolvoGirl — Sun, 21 Mar 2021 22:01:32 GMT

You can sign up for updates here

https://support.turbotax.intuit.com/forms/containment.jsp?fid=Rene%7C18261%7Cd

Re: Has the online version of Turbotax been updated to deduct $10,200 of unemployment income from federal taxes?

DoninGA — Sun, 21 Mar 2021 22:01:45 GMT

@Gma_of_3 wrote:

When will the desktop version be updated?

We expect the desktop editions to be updated by 03/26.

Re: Has the cd version of Turbotax been updated to deduct $10,200 of unemployment income from federal taxes?

Rob205 — Thu, 22 Apr 2021 01:10:19 GMT

I have the cd and have downloaded the latest update, but no recalculation of the $10,200 waiver.

Re: Has the cd version of Turbotax been updated to deduct $10,200 of unemployment income from federal taxes?

VolvoGirl — Thu, 22 Apr 2021 01:11:53 GMT

Turbo Tax is updated for it. You don't have to do anything special to get it. It is automatic. Just enter the full amount on your 1099G. If the exclusion doesn't show up you may need to update the Desktop program. Go up to Online-Check for Updates, for Mac close and open the program. If updating doesn't fix it try doing a manual update for Windows

https://ttlc.intuit.com/community/updating/help/manually-update-turbotax-for-windows-software-basic-deluxe-premier-home-business/00/26041

If updating doesn't help or you are using the Online version then delete the 1099G and re enter it.

Or do you have a high income?

If you have unemployment you can exclude up to 10,200 (per spouse) if your income is under $150,000. Your unemployment compensation will be on Schedule 1 line 7. The exclusion will be on Schedule 1 Line 8 as a negative number. The result flows to Form 1040 Line 8.