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New Member
posted Mar 17, 2021 6:20:29 PM

Is turbotax handling the new unemployment reporting rule ($10200 exclusion)?

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1 Replies
Expert Alumni
Mar 17, 2021 7:57:36 PM

New Exclusion of up to $10,200 of Unemployment Compensation If your modified adjusted gross income (AGI) is less than $150,000, the American Rescue Plan enacted on March 11, 2021, excludes from income up to $10,200 of unemployment compensation paid in 2020, which means you don’t have to pay tax on unemployment compensation of up to $10,200.

 

See How do I claim the new unemployment benefits in TurboTax?- you can sign up to be notified when you can file.