Re: New Exclusion of up to $10,200 of Unemployment... - Page 28
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JamesG1
Expert Alumni

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

@Anonymous

Unemployment income is reported by your state on IRS form 1099-G.  In TurboTax Online, enter as follows:

  • Down the left side of the screen, click on Federal.
  • Across the top of the screen, click on Wages & Income.
  • Under Your income, scroll down to Unemployment.
  • Click on Start/Revisit to the right of W-2.

1040 Schedule 1 line 8 will generate a reversal when the unemployment update takes effect.  View this form under

Tax Tools / Tools / View Tax Summary / Preview my 1040.

 

This TurboTax Help allows you to sign up for updates from TurboTax about this feature of the tax code.  Nearly each state will respond to this mid-season change in the tax code.

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solaria_galaxia
Level 2

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

You are correct, I am not a software engineer.

But I don’t know why one cannot get some kind of timeline for this update, especially if the online one is already done and other companies have provided one. 

l cannot imagine one of my customers asking for information and just blowing them off. Or even worse, ignoring them.

 

txmet
Level 3

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

JamesG1
Employee Tax Expert JamesG1
Employee Tax Expert

@Anonymous

 

When will the FEDERAL returns get updated by TT for the desktop versions????  Please provide a date, not supply a link to be notified once its done.

 

This is to those that are EMPLOYEES of TT not those who think they know or think because a regular update is scheduled for 3/25 that this will be included in that update.  Am looking for someone with actual facts

 

 

maz167
Level 1

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

With the new guidance by the IRS yesterday that the 10,200 won't even be counted towards your MAGI, when will that update be available in the online version?  I know that there needs to be code updates and testing, just trying to get an idea of when it will be available online.

Anonymous
Not applicable

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

Bull**bleep** during this pandemic other companies stood up except fo TT....entitled tech people who are still working while the rest of us try to make it and we have to wait for the entitled before we get our refunds

NeuroPsyche
Level 3

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

totally agree. 

With so many options for taxes now it is a no-brainer not to dump intuit TT and go elsewhere

maksud19
Level 2

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

It's almost like they are intentionally delaying the update to force people use their online version and make more sales... I am going to wait one more day and then if no update will get HR block software...  

EbonyA
Intuit Alumni

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

Please review this link.

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solaria_galaxia
Level 2

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

And can you show me where in the article you linked to is any information about when a software update will be released that is mainly what we are asking about.

You are as tone deaf as this company is about answering a simple question.

txmet
Level 3

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

Employee Tax Expert EbonyA Employee Tax Expert 12m ago
Reply to message
Please review this link.

 

the link says NOTHING about when they will be updating the desktop software so that those of us that PAID for this can file.  How about having an EMPLOYEE provide a DATE

macuser_22
Level 15

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

The desktop update should be in the next scheduled update which is Thursday March 25 - late afternoon usually.

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
Laffusrcu
Level 3

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

@macuser_22 

 

Twitter TurboTax Support has no ETA on update for Exclusion on Unemployment and based what they told me about update tomorrow it will be not included 

Hagerr0822
Level 3

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

I just received a message from TurboTax support.  I had sent a message on Twitter several days ago.  

They said....Update not available for CD version yet but will be in a few days. No date just in a few days!

solaria_galaxia
Level 2

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

To macuser_22

 


Great, more should be and may be.

How about someone that has real information?

 

 

 

helen_feddema
Level 3

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

I just talked to Lisa (Employee ID #64987) at the NYS Tax Dept., and she said that they were awaiting passage of legislation dealing with this problem, and they would post a notice about what to do about getting back taxes paid on unemployment on the main Website (https://www.tax.ny.gov/default.htm) when that information is available.

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