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April 4, 2021
Question

Has turbo tax deluxe 2020 online been updated with the new exclusion of up to $10,200 of unemployment compensation?

  • April 4, 2021
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1 reply

DoninGA
Employee
April 4, 2021

The unemployment compensation exclusion was updated across all TurboTax platforms, online and desktop, on 03/26/2021.

 

The exclusion is reported on Schedule 1 Line 8 as a negative number.  The unemployment compensation received is on Line 7 of Schedule 1.  The result flows to Form 1040 Line 8.