TurboTax update to 2021 American Rescue Plan

[jodiver]

I've gone through all 11 pages of replies to this question but I haven't seen anyone ask this question -

I already filed and had my returns accepted. I have yet to pay the fed the amount I owe them which is almost $2000. The new unemployment tax credit should reduce this amount, so how do I deal with this so I don't have to pay this amount and then wait for the IRS to refund the difference? 

Thanks

[craveking]

The IRS is supposed to "refigure" taxes based on the excluded income. I can only assume you'll get a letter from them with the recalculated amount owed. 

[vc12]

I have updated my Turbotax software several times, but it still does not address the up to $10,200 credit allowed for Unemployment money received on 1099-G.  This is supposed to show as a credit on Schedule l, Line 8.

Since I have entered all the date in the return, it should add that credit on Line 8?

[craveking]

the only version that has been updated is the online version. what version do you have?

[fmw]

Did you ever get an answer to question. I filed with unemployment and need to amend my return but can't get TT to respond when 1040X will be ready to use.

[SS1315]

Hello, what if I already did my taxes and have my check already sent to me? Will the IRS update my ya es and send me a refund for the $10,200 being forgiven? 

[prbrank]

Premier

[MX5Bob]

The tax filing deadline for 2020 returns has been extended to May 17, 2021.

[MX5Bob]

But what about the download version? Mine won't let me enter anything manually in the forms. Looking at my 1040, no adjustment has been made to AGI.

How about updating the version people pay the most for?

[vc12]

Turbotax Deluxe 2020 that I purchased from Intuit.  I don't believe that I downloaded it, just installed it from the CD received.  You would think they would get it updated soon.

[KennF]

Using Desktop version of TT

I know my spouse and I will not have an AGI that exceeds the $150K threshold, regardless of the method of calculation.  And only one of us had unemployment benefits (the other was lucky enough to keep their job through all this mess).

So, can someone tell me why I cannot just go into the forms and manually update Schedule 1, Line 8, with UCE -10200.00?  Won't that lower the income without a change to the Sch1Line7 1099-G match up, since we're listing all of the 1099-G income?

Please.

[Ford-Truck]

When will the Premier Tax Forms be updated to reflect the American Rescue Plan for unemployment exemption?

[ChessPlayer]

@jodiver 

If your return was already accepted, the easiest thing to do would be to make the payment indicated and wait for the IRS to give you a refund.

Second best thing is to calculate the reduction in tax and send in that new reduced payment.

[cdecrich]

I would either way or File online. The online software programs have been ipdated, but not purchased software.

[barbwalt11]

when will turbotax update for american rescue plan for unemployment deduction of  -10200