Sign Up

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
cancel
Showing results for 
Search instead for 
Did you mean: 
laralw
New Member

Has the online version of Turbotax been updated to deduct $10,200 of unemployment income from federal taxes?

 
7 Replies
VolvoGirl
Level 15

Has the online version of Turbotax been updated to deduct $10,200 of unemployment income from federal taxes?

Yes.  But not the Desktop program yet.  

DoninGA
Level 15

Has the online version of Turbotax been updated to deduct $10,200 of unemployment income from federal taxes?

Yes, the TurboTax online editions for the unemployment compensation exclusion were updated on 03/19

Gma_of_3
New Member

Has the online version of Turbotax been updated to deduct $10,200 of unemployment income from federal taxes?

When will the desktop version be updated?

VolvoGirl
Level 15

Has the online version of Turbotax been updated to deduct $10,200 of unemployment income from federal taxes?

DoninGA
Level 15

Has the online version of Turbotax been updated to deduct $10,200 of unemployment income from federal taxes?


@Gma_of_3 wrote:

When will the desktop version be updated?


We expect the desktop editions to be updated by 03/26.

Rob205
New Member

Has the online version of Turbotax been updated to deduct $10,200 of unemployment income from federal taxes?

I have the cd and have downloaded the latest update, but no recalculation of the $10,200 waiver. 

VolvoGirl
Level 15

Has the online version of Turbotax been updated to deduct $10,200 of unemployment income from federal taxes?

Turbo Tax is updated for it.  You don't have to do anything special to get it.  It is automatic.  Just enter the full amount on your 1099G.  If the exclusion doesn't show up you may need to update the Desktop program. Go up to Online-Check for Updates,  for Mac close and open the program.  If updating doesn't fix it try doing a manual update for Windows

https://ttlc.intuit.com/community/updating/help/manually-update-turbotax-for-windows-software-basic-...

 

If updating doesn't help or you are using the Online version then delete the 1099G and re enter it.

 

Or do you have a high income?

 

If you have unemployment you can exclude up to 10,200 (per spouse) if your income is under $150,000.  Your unemployment compensation will be on Schedule 1 line 7.  The exclusion will be on Schedule 1 Line 8 as a negative number. The result flows to Form 1040 Line 8.

Dynamic AdsDynamic Ads
Privacy Settings
v