topic 10200 Unemployment Not Being Exempt in Deductions & credits

10200 Unemployment Not Being Exempt

hadesflames — Fri, 19 Mar 2021 09:36:17 GMT

Now that TT has been updated for the 10200 unemployment directive I would expect my taxable income to be smaller. However it remains unchanged and I see that all of my unemployment benefits are being counted as taxable income. What's going on? (My total income even with unemployment is under 70k)

Re: 10200 Unemployment Not Being Exempt

NeuroPsyche — Fri, 19 Mar 2021 10:01:38 GMT

Same here. TT has NOT changed it's program to allow for the 10,200 unemployment exception. According to tax code, from what I'm reading on the IRS site, the $10,200 amount needs to be added to line 8 of Schedule 1, as a negative amount, in parentheses. TT wont even allow me to add a negative amount in the Schedule 8, line 1, worksheet. Whats going on?

Re: 10200 Unemployment Not Being Exempt

bchrist771 — Fri, 19 Mar 2021 13:36:48 GMT

That's because the GREAT TURBO TAX has not updated their software yet, even though I read on other post, that it should have happened on the eve of March 17, 2021. We are all holding OUR BREATHS. Brenda

Re: 10200 Unemployment Not Being Exempt

Hal_Al — Fri, 19 Mar 2021 13:42:54 GMT

The update is expected by end of today (3/19/21)

Re: 10200 Unemployment Not Being Exempt

bchrist771 — Fri, 19 Mar 2021 13:49:05 GMT

I sure hope so, kinda of like saying "checks in them mail" Brenda

Re: 10200 Unemployment Not Being Exempt

NeuroPsyche — Fri, 19 Mar 2021 16:25:26 GMT

Yes, I hope they fix it soon! I'd like to get my taxes over-and-done with.

It's after noon, checked for updates, and still no go, no updates to the tax exception. agh...

Re: 10200 Unemployment Not Being Exempt

NeuroPsyche — Fri, 19 Mar 2021 16:26:50 GMT

I checked several times today for any updates and so far none...

I guess TT will wait truly until the end of 3/19 to release them.

Re: 10200 Unemployment Not Being Exempt

NeuroPsyche — Fri, 19 Mar 2021 16:29:05 GMT

TT released prior that they were going to have the 10200 UC tax exception updates released yesterday, Thursday but so far, as of today, Friday 3/19, they were not.

I just fetched updates, which TT found no new ones, several times today, Friday 3/19. It's afternoon here in PA now, and no updates.

Re: 10200 Unemployment Not Being Exempt

hadesflames — Fri, 19 Mar 2021 16:51:13 GMT

The thing is, I actually did get an update. I installed an update this morning that was released last night according to the software. And yet, no exemption...

Re: 10200 Unemployment Not Being Exempt

NeuroPsyche — Fri, 19 Mar 2021 16:55:29 GMT

Yes, I did receive an update too this morning but it did not change any of the coding for Schedule 1, line 7 and 8.

When TT updates you'll see using the Forms View, that changes were made to Schedule 1... they will have to be since the IRS says so on their website.

Re: 10200 Unemployment Not Being Exempt

NeuroPsyche — Fri, 19 Mar 2021 20:34:12 GMT

Just checked @ 4:30PM EDT Friday, 3/19 and still no TT update to reflect the $10,200 UC tax exception

Will TT have the update out today like they said?

Re: 10200 Unemployment Not Being Exempt

AmeliesUncle — Fri, 19 Mar 2021 21:44:37 GMT

@Hal_Al wrote:
The update is expected by end of today (3/19/21)

ProSeries got the update today. While the Federal seems to be working well, the State returns that start with Federal numbers are NOT correct. The states that already had it non-taxable are now double-deducting it, and the states that have it taxable are now incorrectly using the deducted amount.

So from that viewpoint, I hope TurboTax does NOT do the update until they fix things for the State returns.

Re: 10200 Unemployment Not Being Exempt

hadesflames — Fri, 19 Mar 2021 22:42:25 GMT

This country is so beyond stupid. It's been an entire week since the directive was released and STILL NOT **bleep**ING UPDATE. Absolutely pathetic. **bleep**bag companies like intuit lobby millions of dollars to ensure they have this scam ass industry instead of just doing the sane thing of letting the IRS do our taxes for us like EVERY OTHER DEVELOPED COUNTRY IN THE WORLD. What do we get out of it? **bleep** all except having to deal with taxes every **bleep**ing year and the bill that comes along with it. These companies should all go bankrupt.

Re: 10200 Unemployment Not Being Exempt

NeuroPsyche — Fri, 19 Mar 2021 22:46:44 GMT

TT announced that it would release the updates Thursday, 3/18.

TT then announced, without explanation, it would release the updates Friday, 3/19

It is now Friday, 3/19 @ 6:44PM EDT and still no updates.

I totally understand that things may not go 100% perfect in production but do NOT lie.

Your promises to release the updates on 3/18, then 3/19, now have become lies. In concrete, all over media.

Be honest and give a date and keep it.

People like me depend on HONEST answers. Not lies.

TT lies just made me to elsewhere, look elsewhere because you now cannot be trusted to give truthful answers.

Re: 10200 Unemployment Not Being Exempt

macuser_22 — Fri, 19 Mar 2021 22:50:39 GMT

@NeuroPsyche wrote:

TT announced that it would release the updates Thursday, 3/18.

TT then announced, without explanation, it would release the updates Friday, 3/19

It is now Friday, 3/19 @ 6:44PM EDT and still no updates.

I totally understand that things may not go 100% perfect in production but do NOT lie.

Your promises to release the updates on 3/18, then 3/19, now have become lies. In concrete, all over media.

Be honest and give a date and keep it.

People like me depend on HONEST answers. Not lies.

TT lies just made me to elsewhere, look elsewhere because you now cannot be trusted to give truthful answers.

For years TurboTax has done updates late evening or night (Pacific Time). It is only 4PM where TurboTax is.

Of course, if an unexpected problem comes up, they will hold the update until it can be solved.

Re: 10200 Unemployment Not Being Exempt

hadesflames — Fri, 19 Mar 2021 23:03:36 GMT

Call your representative and demand that they outlaw tax preparation and force the IRS to do our taxes for us. Everything to do with it should be automatic and handled by the IRS. THEY ALREADY HAVE THE DATA! THEY DO NOT NEED US TO PROVIDE THEM WITH ANYTHING. The system as is exists SOLELY for garbage companies like intuit to profit at our expense.

Re: 10200 Unemployment Not Being Exempt

NeuroPsyche — Sat, 20 Mar 2021 08:26:19 GMT

It's Saturday March 20th and still no update.

Re: 10200 Unemployment Not Being Exempt

NeuroPsyche — Sat, 20 Mar 2021 11:36:38 GMT

It's Saturday, March 20th, 2021, 7:35AM EDT and still no 10,200 UC tax exception code showing

It was supposed to be Thursday, then Friday, and it is now Saturday.

Re: 10200 Unemployment Not Being Exempt

DoninGA — Sat, 20 Mar 2021 11:46:02 GMT

@NeuroPsyche wrote:

It's Saturday, March 20th, 2021, 7:35AM EDT and still no 10,200 UC tax exception code showing

It was supposed to be Thursday, then Friday, and it is now Saturday.

The TurboTax online web-based editions have been updated for the UC exclusion. The TurboTax desktop CD/Download editions have not been updated. That should be forthcoming sometime next week.

Re: 10200 Unemployment Not Being Exempt

Critter-3 — Sat, 20 Mar 2021 12:20:16 GMT

Program updates have always been subject to change and getting new ones completed in less than 2 weeks during an active tax season is amazing. My professional program has the unemployment fix in for the last 5 days however the Premium Tax Credit repayment is still not working and many states have not yet completed the changes ... again patience will be needed by all parties while everyone works hard to integrate the mid season changes CONGRESS put in place ... if you want to be angry at someoe then yell at your congressperson for not handling this earlier.