New Exclusion of up to $10,200 of Unemployment Compensation

[UNINTENDEDACTOR]

I believe I read update will be 3/26... I have to check.... I know Proseries is updated...

[sardella12542]

Turbo tax will let us know when the update is available?

[sardella12542]

How turbo tax will let us know when patch be available

[NeuroPsyche]

They probably will but past history shows that they don't often meet their goals. 

They announced the update will be available Thursday, then Friday, and so far nothing.

[NeuroPsyche]

Well, it's Monday March 22nd, 2021 and I still have no update. 

TT announced on Thursday that they were going to release it that night, then Friday. They didn't seem to be able to meet their goals as of today, Monday March 22nd, 2021, I still have no update. Been manually fetching updates on TT Home and Business and nothing. 

[Sue9]

I think it's not acceptable to not have a date. They seem to have moved off the goal of last Thursday. H&R Block is complete according to an article I read but not TurboTax...the article stated they are waiting for additional guidance. I am not sure I believe that's the reason for the delay though. This is ridiculous.

[Irene2805]

The update for the unemployment benefits has been added to TurboTax Online and we are working on TurboTax CD/Download as quickly as we can.  The adjustment appears as an adjustment [UCE] on line 8 of Schedule 1 and flows to line 8 of the 1040.  [See Screenshot below.]

Please be assured that having your return accurate is a top priority of ours.  Thank you for your patience!

@NeuroPsyche

@sardella12542

@UNINTENDEDACTOR

[NeuroPsyche]

That's nice to hear but I've been checking, forcing my local version version of Turbo Tax Home and Business to fetch updates, several times a day since TT announced last Thursday it was releasing the updates that night.

Today is Monday, March 22nd, 2021 and still no update for my local runtime version of TurboTax Home and Business.

I and many others I do taxes for need that update.

I do not want to manually make the adjustments on Sch 1, 7 & 8, as there seems to be a bit of a discrepancy from what the IRS shows in their instructions and what TT has for lines 7 & 8. It just doesn't' seem to jive.

Please release the updates for us local users. 

And please, when something like this happens don't do press releases and announce your going to do something and then not. I give that information out to others. 

Thank you,

[NotAnExpert3]

This is a good workaround, I did the same thing, but wasn't sure how the software handles that particular input... What I find interesting, is that I created an online account, and started doing my taxes that way (as a baseline) to ensure that the documents match up. Then I used the Deluxe Version for Windows PC with the latest update... and to my surprise the refunds were different. The online tool was reporting that I owe ~200 money to my STATE while the windows version was reporting that I was due a refund of ~500...

The question is have anybody tried this... and can someone explain the difference. 

[NotAnExpert3]

There is something that is not adding up.. I tried manually adjusting the UCE compensation based on the IRS suggestion, and I am getting way different numbers than the online tool is giving me. 

[macuser_22]

Manually entering the negative amount will change the AGI that can mess up 7 other calculations that depend on the AGI.   That is why software is needed to apply the credit without changing other calculations that the tax law specifically said NOT to change.

[debcaterawlings]

Can I receive a notification when I can file an amended return due to this new unemployment exclusion?

[LA98]

Has this been updated as of today?  Your competitor HR Block has updated their software to include this credit. 

[macuser_22]

The next update of the desktop software is scheduled for Thursday.

[mljmal]

This is the first I've seen Thursday, 3/25, as the day of the new scheduled update. Several others here, in the last day or so, have said 3/26. Which is correct?? And why is this taking so long?