Will Turbo Tax update for this tax year to reflect the terms of the new Covid Relief bill just passed, specifically the tax on unemployment?

[SteamTrain]

OF course it will...eventually

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BUT...it has to go back to the House...AND if the House agrees to retroactively apply it to 2020 too...they may not.

Then it has to go to the President...Probably sometime next week..

THEN the IRS hast to set up their own software to deal with it, and set the rules under which it will be dealt with....then let the software companies know how it is to be dealt with.......this last step can take a month or three !!

[eileen4taxes]

Thank you for your response. I guess I was optimistically hoping it would happen before April 15th. 🤣

[lglucca]

The bill for the exclusion has passed and signed. According to the Irs website I can make the change on my form, on line 8. Is that correct.  I have the software for my taxes. Any update on when Turbo Tax will include this information on the software. I don't want to go ahead and deduct before the software has been updated?

Thank you,

[SteamTrain]

"We" users have no idea.

But you can sign up for notification in the following FAQ:

https://ttlc.intuit.com/community/tax-topics/help/how-do-i-claim-the-new-unemployment-benefits-in-tu...

[sbeck2]

Just ran manual update...the unemployment change does not appear as yet...anyone know the status???

[SteamTrain]

@sbeck2 

Nope...no one knows but TTX software managers and programmers themselves...and they won't make promises.

Run and internal software update on this coming Friday morning....if it isn't in there by then, wait until next Thurs/Friday and try an internal software update again.

[denmal]

I just checked and it is not updated YET.... Any one have any insight - I want to file by April 15th 

[LindseyLO]

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