2020 SOFTWARE UPDATE FOR THE TAX CHANGE IN UNEMPLOYMENT BENEFITS EXCLUSION OF 10,200

[1lareed]

CD UPDATE ETA FOR THE UCE $10,200? AS OF TODAY 03/22/2021 TT HAS NOT GIVEN US AN ANSWER I THINK H&R BLOCK IS ALREADY FIXED ? FURTHERMORE, IF TT CANT HAVE ENOUGH DECENCY TO UPDATE THEIR CUSTOMERS THEN I AM JUMPING SHIP AFTER 10PLUS YEARS OF BEING A TT CUTOMER - SHAME ON YOU TT !!!!!

[LenaH]

Once the IRS provides additional guidance, TurboTax will be updated to reflect these new tax laws relating to unemployment. The update should be released shortly and we thank you for your patience. 

As part of the recently passed American Rescue Plan, the first $10,200 worth of unemployment payments are now tax-free for a person with an annual modified adjusted gross income of less than $150,000. This expanded tax relief begins this year, starting for taxpayers filing returns after January 1, 2020.

If you haven’t filed your 2020 taxes yet and would like to receive progress status updates, please sign up here.