topic Re: Massachusett Unemployment Compensation Deduction. in State tax filing

Massachusett Unemployment Compensation Deduction.

Wdtax20 — Tue, 06 Apr 2021 17:45:28 GMT

Why doesn't Turbo Tax take a $10,200 deduction for Unemployment Compensation on a Massachusetts State tax return for a couple (family size 2) with an AGI of $21,695? Shouldn't there be a deduction on Mass Schedule Y, Line 9 for $10,200?

Re: Massachusett Unemployment Compensation Deduction.

ThomasM125 — Wed, 07 Apr 2021 03:14:57 GMT

Yes, there should be a deduction. The TurboTax program has not been updated yet to reflect the deduction for unemployment income yet, as the legislation was just passed recently.

If you file your tax return before the adjustment is installed, the state will adjust your return to reflect the change, but it would be best to wait until TurboTax has been updated to make sure you return is processed properly.

Re: Massachusett Unemployment Compensation Deduction.

shawnhuang20 — Thu, 08 Apr 2021 12:45:47 GMT

I had same issue, when Turbotax will have this update ? any timetable ?

Re: Massachusett Unemployment Compensation Deduction.

OliverRomeo — Thu, 08 Apr 2021 13:17:40 GMT

Massachusetts had an update today, I was so excited, but... it didnt fix the PPP issue nor the unemployment issue. Very frustrating.

Re: Massachusett Unemployment Compensation Deduction.

AmyC — Thu, 08 Apr 2021 23:37:33 GMT

The state has said they hope to have their forms finished in another week. Once done, TurboTax will incorporate quickly.

According to @dave_the_rave in another thread.

Re: Massachusett Unemployment Compensation Deduction.

brenruth — Mon, 12 Apr 2021 20:16:04 GMT

You know it should be updated. WHEN will it be updated?

Re: Massachusett Unemployment Compensation Deduction.

DawnC — Mon, 12 Apr 2021 20:23:46 GMT

We do not have a date. TurboTax calculations have not been updated for Massachusetts. If you haven’t filed your return, you can either:

Wait for TurboTax to be updated along with your state, or
File your return now and potentially amend later if they do not follow the federal guidelines. @brenruth

Re: Massachusett Unemployment Compensation Deduction.

vmwelts — Wed, 14 Apr 2021 16:43:06 GMT

Hello, do you know WHEN Turbotax will have this updated on the Home and Business version? Thank you!

Re: Massachusett Unemployment Compensation Deduction.

DianeW777 — Thu, 15 Apr 2021 14:16:57 GMT

Please continue to check the link below for the most up to date information for unemployment income and whether your state is ready to file. It's important to receive the details from each state and their approval of the necessary changes to complete the return.

How is my state taxing unemployment?

Re: Massachusett Unemployment Compensation Deduction.

ChrisCoco — Sat, 17 Apr 2021 19:18:52 GMT

It doesn't look like it has been updated. My return is looking at gross income instead of AGI to calculate eligibility for unemployment waiver

Re: Massachusett Unemployment Compensation Deduction.

RickToc — Sun, 18 Apr 2021 13:06:40 GMT

There was an update for Massachusetts this morning, but it did not do anything for the 10,200 unemployment deduction. When will Turbo Tax be making this update? It is already April 18th