Has Turbotax updated its software to include the Unemployment Compensation Exclusion Worksheet for unemployment benefits in 2020 and, if not, when will it be updated?

[dccreager]

I have not yet filed and want to be sure to have the most updated version prior to filing my return.

[VolvoGirl]

Yes both the online version and Desktop programs have been updated.  Almost a month now.

You don't have to do anything special to get it.  It is automatic.  Just enter your 1099G.  If the exclusion doesn't show up you may need to update the Desktop program.  If updating doesn't help or you are using the Online version then delete the 1099G and re enter it.

If you have unemployment you can exclude up to 10,200 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.

[dccreager]

Wonderful, thanks for the confirmation!

[CarolineS]

For State Taxes under the "Household Income" section where we are required to manually enter in the taxable income amounts, does this mean we should subtract $10,200 and list the new amount there?

I am having difficulty getting passed this step and the difference is owing hundreds more dollars in the end.

Also, are we including stimulus amounts in this section? There is no guidance I can find online on how to complete this section. 

I am in NYC using the TurboTax IRS FreeFile software online.

Thanks in advance.

[DMarkM1]

That household income interview appears to be for a NY real property tax credit.  You only need to enter the items listed on the page if they apply.  The items are those that are not already in your FED AGI like Social Security not already in Fed AGI, SSI, utility bill assistance, etc.) 

TurboTax has already automatically added the 10,200 back in to your NY return so you don't need to add it again.  

You do not enter any stimulus amounts, as those are not income at all.  

In many cases there is nothing to enter here.