Question

American Rescue Plan, the latest stimulus bill signed into law this week, when will the updates be made in your system to reflect the $10,200 tax break on unemployment?

Forum|Forum|5 years ago
March 15, 2021
1 reply
0 views

No text available

TurboTax Self Employed Online

The new ARP bill has exempted from taxation up to $10,200 of unemployment benefits received in 2020 for households with an annual income under $150,000..

However, this bill has just been signed on March 11. Please be patient.

Do not amend your tax return for the time being. The IRS will provide guidance within two to three weeks on what taxpayers need to do. And TurboTax will then update their program and assist their customers.

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"