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March 19, 2021
Question

The Federal Exclusion for unemployment is only for federal and not the state. How can I file when the system will auto correct the income?

  • March 19, 2021
  • 1 reply
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I only will pay Federal tax on a portion of unemployment received. will pay state on full amount received. How can I fill this on line??

1 reply

March 19, 2021

TurboTax has not been updated for the $10,200 federal exclusion for unemployment. TurboTax is still waiting for IRS guidance. Once the IRS provides additional guidance, TurboTax will be updated to reflect these new tax laws relating to unemployment. 

 

If you haven’t filed your 2020 taxes yet and would like to receive progress status updates, please sign up here. 

 

Many states use federal income as a starting point, so it is possible the federal exclusion may automatically pass through to the state. Some states may also amend their tax laws once final IRS guidance comes out.

 

TurboTax will update its state programs as guidance comes out from the states.

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