Unemployment tax break update

[casey-t-klein]

how do we file with the new 2020 tax break for the first 10,200 of our Unemployment income

[SweetieJean]

Come back tomorrow. It's not ready yet.

[kyeungttx]

I noticed that TurboTax has released an update on the unemployment benefits tax break.  Does it include the latest IRS guidance (from 3/23) where the unemployment benefits received in 2020 won't count towards the $150k earning limit?  I just updated TurboTax and and did not think that it has been updated for the latest.  Can you please confirm? 

[AkinaLO]

The final changes and updates will be made by 3/26. Please perform an update then and continue to file your return. You should also be notified by email once the changes are made.

[drfee1good420]

my taxes were accepted feb 13 and on here said it was supposed to be payed but never was i was told it was in error department but never told why could this be why. I also havent got my stimules because it went to a closed bank account from my last 2019 tax returns.  I also moved and changed adress with mail but will they mail me a check to the old adress for stimules because its on my 2019 taxes or will they direct deposit  it to my new bank on my 2020 taxes or mail to new adress if its still prossesing  

[Mao-sama]

Hi @AkinaLO I'm still so confused about this new changes can you please explain it a little better, please and thank you!

[chrisacode]

Update just landed for me at 1:07am CDT for Mac desktop Home & Business, updated to v2020.r23.046. Now incorporating the $10,200 unemployment exemption on Schedule 1, Form 1040. Enjoy!

[EbonyA]

Please review this FAQ for more details @Mao-sama.