TurboTax update to 2021 American Rescue Plan

[poppy345_]

Turbo Tax silence on this is deafening !!  Tell us where we are.

[aalaniz]

TT responded the update for the CD or Download versions with happen on March 26th 2021. The online update has already happen for online tax prep.

[samden13]

I just logged in and my taxes now reflect the unemployment changes. 😊 (Online TT)

[craveking]

I'm assuming you mean the unemployment update? The APTC has not been updated.

[fawilson]

Are there any updates to Turbo Tax on the unemployment credit included in  the American Rescue Plan?

[GeneLappin]

What date will the unemployment credit of 10200 also where will we input the credit                                  

[gogregsyao]

I followed your directions but when I get to line 22 and click on the line a blue box appears but does not allow me to put in the -10200. 

[dmacdona75]

This is stated in the TT website:

If you haven't filed your 2020 tax return, yet, go ahead and do so. TurboTax will guide you through claiming these additional unemployment benefits.

So how do I do this?

[dmacdona75]

The press is reporting:

TurboTax, H&R Block update software to account for $10,200 unemployment tax break

PUBLISHED MON, MAR 22 20212:32 PM EDTUPDATED MON, MAR 22 20213:03 PM EDT

Greg Iacurci@GREGIACURCI

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KEY POINTS

• TurboTax and H&R Block updated their online software to account for a new tax break on unemployment benefits received in 2020.

[craveking]

if you have the online version of TT, the UI credit will show up on your schedule 1 automatically. This update is already implemented in the online version. If you have other versions, wait for the update. Apparently that will happen within the next few days. 

[ritchpot]

When will update to tubo tax occur  for the 10200 exclusion on unemployment? Should I just subtract 10200 from my total unemployment?

Paul

[ReneeM7122]

No, you should not subtract 10,200 from your total unemployment.  The information on your 1099-G must match your tax return or the IRS will flag it.  The update is currently being rolled out and should not be much longer.  

The IRS just released the following guidance regarding unemployment.  Please review this thread regarding the update to the 2021 American Rescue plan in TurboTax.

@ritchpot

[mws_0]

The IRS just issued new guidance that the amount of Unemployment Compensation does not count toward the $150,000 cutoff.  TT will need to update to reflect this latest change.

[AERTAX]

The bill was passed and signed some tine ago. Please provide estimated timing you will provide appropriate updates. 

[jmkimorris]

Is that program included in the Turbo Tax that I am presently using?