The first $10,200 of unemployment from 2020 is tax exempt from federal income taxes. Has turbotax updated this on their website?

Forum|Forum|5 years ago
March 18, 2021
3 replies
11 views

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TurboTax Self Employed Online

DoninGA

Level 15

The software will be updated on 03/19 for the unemployment compensation exclusion.

ProfCEO

Level 2

TurboTax has not been updated for the unemployment exemption as of 3-22-21 11:00PM EST.

DawnC

Employee Tax Expert

It is updated in the Online software, but the desktop software is not updated yet. You can sign up here to receive an email notification when it has been completed.

The first $10,200 of unemployment payments are now tax-free for households with an annual income under $150,000. If you’ve already filed your 2020 return, hang tight. The IRS will provide guidance on how you can claim these additional benefits soon. @ProfCEO

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