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May 16, 2021
Question

Is turbotax basic free getting me the 2020 unemployment exclusion of 20,400 for married filing jointly?

  • May 16, 2021
  • 1 reply
  • 0 views
When I enter the amount of unemployment, it is all there. How do I know if I am getting the exclusion? If I am married filing jointly, this 20,400 exclusion should basically wipe out all my unemployment income, shouldn't it?

1 reply

ColeenD3
May 16, 2021

The program has been updated to automatically apply the adjustment for unemployment as long as you have entered it in the appropriate section as outlined below. 

 

You will enter the unemployment information in the federal interview section.

  1. Select Income & Expenses
  2. Scroll down to All Income and select Unemployment
  3. Select Unemployment and paid family leave
  4. You will be able to enter your information from your Form 1099-G

 

The adjustment will be reflected on Schedule 1, Line 8G.