The American Rescue Plan Act of 2021 (ARPA), signed into law Thursday (March 9th), exempts up to $10,200 of unemployment benefits received in 2020 per individual from taxes for households with less than $150,000 in adjusted gross income. Is there any estimated as to when this going to be corrected in Turbo Tax (2020)?
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Turbo Tax (Deluxe) 2020 has been updated with this issue corrected (3/26/2021)
Both TurboTax Online and TurboTax CD/Download have been updated to accommodate the new unemployment exclusion provision for the 2020 tax return.
Enter your unemployment as usual and TurboTax will do the rest.
So far the Federal and most States but not yet for the Oregon Income tax return
Oregon has not been updated yet. Click here to select your state: Your state unemployment exclusion
You can either wait for the update or file now and amend later.
Thank You for your patience.
Thanks for the info. OR is a day late and a dollar short on updates, as it has been on Covid shots. :(
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