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meganvera
Level 1

When will the TurboTax updates be available for the $10,200 unemployment tax relief for both Federal and State (Minnesota)?

TurboTax Updates on Unemployment Tax Relief

Unemployment tax relief Minnesota
3 Replies
DoninGA
Level 15

When will the TurboTax updates be available for the $10,200 unemployment tax relief for both Federal and State (Minnesota)?

The unemployment compensation exclusion was updated across all TurboTax platforms, online and desktop, on 03/26/2021.

 

The exclusion is reported on Schedule 1 Line 8 as a negative number.  The unemployment compensation received is on Line 7 of Schedule 1.  The result flows to Form 1040 Line 8.

 

Click on Tax Tools on the left side of the screen. Click on Tools. Click on View Tax Summary. Click on Preview my 1040 on the left side of the screen.

 

See this TurboTax support FAQ for state unemployment taxes - https://ttlc.intuit.com/community/internal-revenue-service/help/how-is-my-state-taxing-unemployment-...

 

Minnesota (MN)

TurboTax calculations are correct and up-to-date for your state. You can go ahead and finish and file your state return.

meganvera
Level 1

When will the TurboTax updates be available for the $10,200 unemployment tax relief for both Federal and State (Minnesota)?

Does Minnesota also have a limit of 10,200 to be taxed? My numbers changed for federal, but not for state when I re-did them.

JohnW152
Expert Alumni

When will the TurboTax updates be available for the $10,200 unemployment tax relief for both Federal and State (Minnesota)?

@meganvera

There’s no exclusion for unemployment benefits on your Minnesota return.    

The unemployment compensation amount you were able to exclude from your federal return is included (as an addition to income) on your Minnesota return, so there's no change.

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