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Yes. But not the Desktop program yet.
Yes, the TurboTax online editions for the unemployment compensation exclusion were updated on 03/19
When will the desktop version be updated?
You can sign up for updates here
https://support.turbotax.intuit.com/forms/containment.jsp?fid=Rene%7C18261%7Cd
@Gma_of_3 wrote:
When will the desktop version be updated?
We expect the desktop editions to be updated by 03/26.
I have the cd and have downloaded the latest update, but no recalculation of the $10,200 waiver.
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
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.
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