2020 American Rescue Plan allows tax exemptions for up to $10,200 in unemployment benefits paid in 2020 ??

[mlg944]

The American Rescue Plan allows tax exemptions for up to $10,200 in unemployment benefits paid in 2020

When will an update be available to download to get current with this change.

Currently as of 3/14/2021 TurboTax is not calculating this properly, It's calculating the full unemployment earnings for 2020 and not deducting the $10,200.

[HelenC12]

Hang tight. We are waiting for the IRS to provide guidance on how you can claim these additional American Rescue Plan benefits soon. 

• Regarding the first $10,200 of unemployment payments: they are now tax-free for households with an annual income under $150,000.