Was supposed to be yesterday evening, but TT is not updated yet.
We expect TurboTax to be updated sometime today, Friday, March 19, 2021, to include the new federal tax relief calculations to exclude $10,200 of unemployment compensation. Sometimes the software change happens at midnight so don't worry if you don't see it right away.
As part of the recently passed American Rescue Plan, the first $10,200 worth of unemployment payments are now tax-free for households with annual incomes less than $150,000. This expanded tax relief begins this year, starting for taxpayers filing returns after January 1, 2020.
Thank you for the update. The update was added to the online version of TurboTax, correct? Do you know when the update will be available for the CD/Download versions?
normally, the desktop gets updated on Wednesday nights into Thursday morning each week
Thank you for your response, but I am unclear and trying to clarify. Updates you say are generally available Wednesday-Thursday nights, correct? But I am specifically inquiring is the exclusion of up to $10,200 of unemployment compensation. This update it is my understanding was made available to the online version, but I would like to know when this specific update will be made available for the CD/Download version?
since we are all users and not employees , not sure anyone would know specifically.
But if the online version was already updated, I can't imagine the desktop version would be far behind.... and since it's updated weekly, I'd sit tight until Thursday morning.