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How do I account for for the 10,200 tax exemption in turbo tax? Do I reduce my income? I am not getting any answers through all other venues

Do I need to adjust down my income or is Turbo Tax still not updated?   I've searched multiple venues and can't seem to find an answer.
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8 Replies

How do I account for for the 10,200 tax exemption in turbo tax? Do I reduce my income? I am not getting any answers through all other venues

You can either wait for the desktop program to be updated or file now and the IRS will correct your return for you. The time frame for that correction is not known. 

DavidD66
Expert Alumni

How do I account for for the 10,200 tax exemption in turbo tax? Do I reduce my income? I am not getting any answers through all other venues

You should not make any adjustments to your income or how you input your Form 1099-G.  TurboTax Online has been updated to reflect the exemption of $10,200 of unemployment benefits, if you income is below $150,000.  If you qualify, the program will automatically calculate the amount to exclude and adjust you income and tax accordingly.

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snakeman60
Returning Member

How do I account for for the 10,200 tax exemption in turbo tax? Do I reduce my income? I am not getting any answers through all other venues

When did the update occur.  I am not seeing that yet.

snakeman60
Returning Member

How do I account for for the 10,200 tax exemption in turbo tax? Do I reduce my income? I am not getting any answers through all other venues

I have a CD loaded desktop version of turbotax

How do I account for for the 10,200 tax exemption in turbo tax? Do I reduce my income? I am not getting any answers through all other venues

The desktop update is scheduled for 3/25. (Probably late afternoon as usual for updates).

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**

How do I account for for the 10,200 tax exemption in turbo tax? Do I reduce my income? I am not getting any answers through all other venues

So when is the TurboTax Deluxe version that I purchased and loaded on my PC going to be updated.  I am still not seeing any changes when I go into finish my taxes and am getting increasingly frustrated.  Come on Turbo Tax, I paid for this version and can't get my taxes done.  

How do I account for for the 10,200 tax exemption in turbo tax? Do I reduce my income? I am not getting any answers through all other venues

The Desktop program was updated on March 26.  Try updating your program.  How to update

https://ttlc.intuit.com/community/installing/help/how-do-i-update-turbotax-cd-download/00/26038

 

If updating doesn't help then delete the 1099G and re enter it.

How do I account for for the 10,200 tax exemption in turbo tax? Do I reduce my income? I am not getting any answers through all other venues

@vikingsfan22462- - the program typically updates each week over Wed night into Thurs morning......on the toolbar, click 'Online" and then "update" - what message do you get? 

 

it should check for updates automatically each time you launch the program. 

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