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loganneb
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Does anyone know when TurboTax will update the software to accommodate changes due to the American Rescue Plan? For weeks now, it's been suggested that I wait to file.

 
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Does anyone know when TurboTax will update the software to accommodate changes due to the American Rescue Plan? For weeks now, it's been suggested that I wait to file.

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

 

The Premium tax credit adjustment has not yet been implemented in TurboTax.

 

Statement from the IRS - https://www.irs.gov/affordable-care-act/individuals-and-families/the-premium-tax-credit-the-basics

 

We’re reviewing the tax provisions of the American Rescue Plan Act of 2021, signed into law on March 11, 2021. Taxpayers who filed a 2020 tax return and reported an excess advance premium tax credit repayment on Line 29 of Form 8962, Premium Tax Credit, should not file an amended tax return only to get a refund of this amount. The IRS will provide more details soon.

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