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?
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.
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.
I had same issue, when Turbotax will have this update ? any timetable ?
Massachusetts had an update today, I was so excited, but... it didnt fix the PPP issue nor the unemployment issue. Very frustrating.
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.
We do not have a date. TurboTax calculations have not been updated for Massachusetts. If you haven’t filed your return, you can either:
Hello, do you know WHEN Turbotax will have this updated on the Home and Business version? Thank you!
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.
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