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March 25, 2021
Question

I have done everything that the turbotax help site and every youtube video says to do to enter the unemployment compensation exemption. Nothing works.

  • March 25, 2021
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1 reply

March 25, 2021

Did you use the Online software or the Desktop Software? The Online software has the updates, however, the Desktop version, does not.

 

If you have already filed your 2020 Form 1040 or 1040-SR, there is no need to file an amended return (Form 1040-X) to figure the amount of unemployment compensation to exclude. The IRS will refigure your taxes using the excluded unemployment compensation amount and adjust your account accordingly. The IRS will send any refund amount directly to you.

 

Please see this TurboTax FAQ, for more information, How will the third stimulus impact me? - TurboTax

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March 26, 2021

So when will the desktop version get updated?

fanfare
Employee
March 26, 2021

there's nothing for you to do. It's all automatic.

review Schedule 1 line 8 and if it has a negative number, down to no less than -10,200, or your UI comp, it is done.