With the house set to approve $10,200 of unemployment being tax free, with turbo tax automatically adjust this in their system? I'm waiting to file because of it.

[teresamorgan0301969]

Hello, @DoninGA 

Will this be available before April 15?

Thank you,

Teresa M. 

[DoninGA]

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@teresamorgan0301969 wrote:

Hello, @DoninGA 

Will this be available before April 15?

Thank you,

Teresa M. 

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I would expect the software to be updated by the end of March or early April at the latest.

[teresamorgan0301969]

Thank you, @DoninGA 

[BVL1]

Incorrect

First $10,200 of UI benefits received in 2020 is covered in the most recent legislation

[joepsca]

From the content and tone of Intuit's responses, they don't seem to know (or care).

[Anonymous]

@joepsca  there isn't a single response in this thread from anyone at Intuit.  This is a user-to-user forum although at certain times of the year Intuit employees do help give some answers. 

Not sure what on earth would make you think they don't care but it has literally only been a few days since it was signed into law and a few HOURS since the first release of any kind of guidance from the IRS - and that is in regards to how to treat the income in only one of several scenarios that may come up. 

It takes time for 1- the IRS to communicate how to handle the information and then 2- for the companies to make program changes.  this stuff can't happen in a millisecond. This is the real world, not whatever fantasy land is in your mind about how "easy" this is. 

Until the companies are clear on how the IRS wants to handle it, there is no way for them to tell you "when"  

Simmer down

[holl22]

Following for updates. 

[DoninGA]

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@holl22 wrote:

Following for updates. 

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See this TurboTax support FAQ for information for the unemployment compensation exclusion - https://ttlc.intuit.com/community/tax-topics/help/how-do-i-claim-the-new-unemployment-benefits-in-tu...

Also see this IRS statement - https://www.irs.gov/newsroom/irs-statement-american-rescue-plan-act-of-2021