Skip to main content
March 14, 2021
Question

When will TurboTax update the program to reflect the first $10,000 unemployment to not be taxed?

  • March 14, 2021
  • 1 reply
  • 0 views
No text available

1 reply

macuser_22
Employee
March 14, 2021

The $10,200 unemployment retroactive to 2020 was just signed into law. Now the IRS is responsible for writing regulations and rules for claiming it.

The IRS has released new instructions for reporting this that should not take very long to incorporate.

 

Give it a few weeks to issue an update.

https://www.irs.gov/faqs/irs-procedures/forms-publications/new-exclusion-of-up-to-10200-of-unemployment-compensation

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**