Question

2020 Unemployment Insurance Income waived from Federal Tax return

Forum|Forum|5 years ago
April 12, 2021
1 reply
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I am using TurboTax Premier to do my taxes. I don't see this Premier software excludes the $10200 UI Income while working on my Federal Tax Return. I found other posts about TurboTax updates for the $10200 exemption from State Taxes like this, https://ttlc.intuit.com/community/internal-revenue-service/help/how-is-my-state-taxing-unemployment-income/00/2065458#.

However there is none about exemption from Federal tax. Will Intuit have update to include this exemption for Federal Return?

Thanks.

H

HelenC12

The TurboTax software is up to date. The $10,200 unemployment compensation exclusion adjustment is shown on Schedule1 (Form 1040), Additional Income and Adjustments to Income, Line 8, Other income, with UCE as the explanation.

To preview your form 1040 in TurboTax Online, see How do I preview my TurboTax Online return before filing?

To be eligible, your annual income has to be less than $150,000. This expanded tax relief begins this year, starting for taxpayers filing returns after January 1, 2020.

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