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selena0219
Returning Member

When will turbo tax be updated to reflect the new unemployment tax waiver of up to $10,200?

 
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4 Replies
JotikaT2
Employee Tax Expert

When will turbo tax be updated to reflect the new unemployment tax waiver of up to $10,200?

We are still waiting as the treatment is still being determined at this point by the IRS.  According to the newly passed legislation, the first $10,200 on unemployment earned in 2020 would be considered nontaxable if your household income is less than $150,000.

 

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selena0219
Returning Member

When will turbo tax be updated to reflect the new unemployment tax waiver of up to $10,200?

it looks like turbo tax was updated on the federal side for the unemployment tax waiver but i notice i still have tax due for the state.  i am filing in nys, are the states not allowing for the same waiver?

When will turbo tax be updated to reflect the new unemployment tax waiver of up to $10,200?

As  of today--New York has not followed the trend to exempt unemployment---so it is still taxable in your state.   Quite a few states have enacted new changes to follow the federal example, but some have not.   Alas--NY has not.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
selena0219
Returning Member

When will turbo tax be updated to reflect the new unemployment tax waiver of up to $10,200?

do you think this could change or is this set in stone?

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