10200 unemployment updates

[antonova]

Any updates on 10200 unemployment exclusion? According to the news, it was supposed to be done by 12 pm on 3/19.  Will any additional forms be added? I was able to enter this amount on Sch 1 line 8 but I did not see any income limitation.

[ee-ea]

See this from the IRS

https://www.irs.gov/newsroom/irs-statement-american-rescue-plan-act-of-2021

[antonova]

Thank you for the reply but it was not what I asked for.  I was wondering if TurboTax software has been updated in order to enter and deduct 10200 from income.  Is there an additional form associated with this waiver in the drop down?

[ee-ea]

Once the IRS say what to do about the UE law change  TurboTax will make its changes.

[antonova]

As I read in the news, Turbo Tax was supposed to make this change today at 12 pm.

[sleong58]

On 3/28/21 I happened to re-open TT and found it had updated the prgram to automatically include the $10,200 Exclusion. For me the reduction in taxes due was significant. I still had to file by paper because as some have indicated, since my 2019 AGI did not match IRS records I could NOT file electronically.  As I later found out, due to the pandemic the IRS had not processed by 2019 return until November 2020 even though I electronically filed in March of 2020. 

[VolvoGirl]

@sleong58   Do you have a question?  If you filed without the exclusion the IRS will adjust your return.  You do not need to amend.

Its too late now but did you try entering 0 for the AGI to efile Sind the IRS didn't process 2019 on time?

[sleong58]

Hi VolvoGirl,

Thanks for your response.

No, I did not have a question I was simply posting a comment that TT had updated its program to include the $10,200 exclusion.

As for my rejected efile, I did not try entering 0 for my 2019 AGI. Since I tried the suggestions the TT program made to try and rectify the rejected return I simply opted to file by paper. Since I had a payment due for the Federal I hope when they adjust my return I will be refunded the overpayment made.