Unemployment Compensation Exclusion Worksheet – Schedule 1, Line 8

[patobr55]

I read yesterday that a Turbotax  spokeswomen said that this would be updated in the software the evening of March 18th. I do not see that this happened.

[Irene2805]

The adjustment to the taxable unemployment benefits will be on Schedule 1, line 8 of the 1040.  TurboTax will guide you through the process.

If you haven't filed your tax return yet, we expect TurboTax to be updated later today (Friday, 3/19) to include the new federal tax relief calculations on unemployment benefits. [Releases are usually pushed later in the day.]

If you have already filed your return, the IRS has stressed to NOT amend at this time. We do not yet have updated guidance for those who have filed their returns.  Please see this TurboTax Help article:  How do I get the new unemployment benefits if I’ve already filed my taxes?  It contains the latest information and contains a link for you to sign up to be notified when changes occur.

[patobr55]

I have not filed my return yet and my Turbotax  premier verson was updated last on 03/18/21. It says it is up to date and it does not have the Unemployment exemption worksheet and does not exempt the $10200. When will this update be pushed out I need my refund

[Kim-C]

As of 03/20/2021, it has not updated in my Turbo Tax, but it is updated in the Intuit Pro Series Basic.  When is this really going to be updated?

[massykes1234]

I've tried to apply update multiple times and nothing related to the Unemployment Exclusion was included in any updates.  At least when I try to address the Exclusion, the program doesn't do anything so the application is likely not updated.

When will the Deluxe version be updated?

[jay2021]

It is now March 22, 2021 and your expert had stated that it would be pushed through on the 19th. There are no updates to my version of turbo tax as I continue to wait for this worksheet. It is truly disappointing that we keep getting told that it will be updated and still nothing.  Does anyone have the true answer? I did receive an email from Turbo Tax about the extension not really interested in doing that would prefer you get the worksheet done on your end so I can file on time.

[Steve1044]

It would seem that he exclusion can be accomplished by using the IRS worksheet at https://www.irs.gov/faqs/irs-procedures/forms-publications/new-exclusion-of-up-to-10200-of-unemploym...

and entering the resulting "UCE" on line 22 on Other Income form in Turbotax. I am waiting for Turbotax to confirm or procedurally generate this exclusion before going any further

[JoanneV]

I'm seeing a lot of similar questions but have yet to see an answer. Do we continue to wait and file until Turbo Tax has updated this in their system or is it better to file directly with the IRS? This process on here is confusing and seems like people who really need this tax exempt aren't going to get it filing here. Do we have clarity on when this will be updated, it's now March 22nd?? 

[JamesG1]

@patobr55

TurboTax does not yet support the $10,200 reduction of taxable unemployment insurance on your 2020 Federal 1040 tax return.

Once the IRS provides additional guidance, TurboTax will be updated to reflect these new tax laws relating to unemployment. 

 This TurboTax Help allows you to sign up for updates from TurboTax about this feature of the tax code.

[Special Ed]

"Once the IRS provides additional guidance, TurboTax will be updated to reflect these new tax laws relating to unemployment."

The IRS posted the correct unemployment worksheet six days before this non-answer.  As a 'tax expert,' you must surely know that.

In the meantime, that IRS worksheet gives instructions for adjusting the 1040 to reflect the current law.  But this software let us go through the very painful e-file authorizations before rejecting that filing because this software won't accept that lawful adjustment.

You can hear the exasperation in these comments.  And H&R Block got it right.  So, when, exactly, will Intuit catch up to something we've seen coming since the election four months ago?

[Baggss]

Typical, intuit better get on the ball before they lose more customers, this "were waiting for more guidance " is just newspeak for "we'll get to it when we get to it", 

Intuit has gotten too fat and happy over the years, I should've stayed with Block

[Tim1234]

I've asked I don't know how many times.  They don't give a sh-t.  I have had it with them!!

[hmt90a]

@Irene2805 

Like the many other commenters, I have not yet seen this update to TurboTax (Home & Business). While I can do a workaround by calculating it manually or making the correction when I import into ProSeries, I shouldn't have to. Intuit stated on March 17 that the update would be made available March 18. Five days later, it isn't done. Please push Intuit to fix this. I'm a CPA so I know what to do about it, but many others aren't and don't.

[Bob_NC]

My return was complete in TurboTax, but I held off filing in anticipation of this change.  When I go back into my return to revisit income I do not find any guidance about this change.  I am using the TurboTax Deluxe edition and have applied all updates.  I have searched for the Unemployment Compensation Exclusion Worksheet in the forms view but do not find it.  Has the deluxe edition been updated?  If so, what do I need to do to either get the guidance to step through it or to manually update the form?  I realize that this was a complex change in the middle of tax season but it seems like the steps to document it correctly should not be difficult.

[MAXTAX86340]

It's Wednesday March 24, and still no update! What's the ETA?