Hello,
I'm using Turbotax Self Employed Online to file my taxes.
I'm done with my federal and tax returns and when I click on "Review" ( as I understand that should be a final step ) I do see:
So, I did a little bit search on the forum to see what is this about, and I found that Turbotax published an update to Online version to support this deduction -
The Online TurboTax has been updated to reflect the federal tax forgiveness for the first $10,200 of unemployment. The desktop software update is in progress and will be ready soon. -
If Online version was updated, why I can't move forward? Does anyone here have the same problem?
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You can move forward unless you also need to file a state return. The states have not all been updated. You may be able to file the Federal return now (if using TurboTax Online) and the state later.
Please check Schedule 1 to see if the unemployment was offset.
Click Tax Home
Click Review if necessary to get Tax Tools on the left side-bar
Click Tax Tools on the left side-bar (you may need to use the scroll bar for the left side-bar to see this)
Click Tools on the drop-down list
Click View Tax Summary on the Tools Center screen
When you do this, Preview my 1040 appears on the left side-bar
Click Preview my 1040 on the left side-bar
Thanks for the Reply.
Yes, I'm filling federal + states tax at the same time, filling jointly ( me + my wife ) .
I'm filling in CA, so unemployment benefits are not taxable ( if that makes any difference ).
I don't think we can take this deduction, because our adjusted income is $151k ( this includes 2020 unemployment benefits my wife received )
but when I'm on Review step I see:
Do I just skip it and click "Continue and file now" or do I need to "wait" until turbotax makes it's update? ( which is weird because link I posted above says it was updated ).
Yes, TurboTax Online has been updated for Federal Returns, but not all states are updated.
I would suggest your View/Save/Print your return before filing to make sure your Federal and California returns are correct before filing.
When you do enter your 1099-G, as a California resident, and you get to the state module of the TurboTax program, the software should confirm that your 1099-G is indeed CA state-tax exempt.
Click this link for more info from the California FTB.
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