H&R Block 3/18 update includes unemployment adjustment
H&R Block 3/18 update includes unemployment adjustment
Just downloaded the new H&R Block software update and noticed it includes the adjustment for the $10,200 of unemployment payments.
Re: H&R Block 3/18 update includes unemployment adjustment
As soon as I saw your post, I checked Turbo Tax. Although there was an update, it didn’t include the unemployment exemption. I thought for sure it would be there.
Re: H&R Block 3/18 update includes unemployment adjustment
I just did the update about an hour ago. What happened was I downloaded the update then my return automatically opened. The unemployment adjustment did not show up until I closed my return and the program and then reopened them. Maybe you have to do the same with Turbotax?
Re: H&R Block 3/18 update includes unemployment adjustment
I tried your suggestion, but no luck. Thanks for trying.JCH10400 wrote: ↑Thu Mar 18, 2021 7:04 pmI just did the update about an hour ago. What happened was I downloaded the update then my return automatically opened. The unemployment adjustment did not show up until I closed my return and the program and then reopened them. Maybe you have to do the same with Turbotax?
Last edited by Fortitude on Thu Mar 18, 2021 7:43 pm, edited 1 time in total.
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Re: H&R Block 3/18 update includes unemployment adjustment
Thanks for the tip. Did the update, reopened my return, and it calculated the tax due properly. This is my first year with H&R and I was impressed how easy it was to use.
Francis
"Success is getting what you want. Happiness is wanting what you get." |
Dale Carnegie
Re: H&R Block 3/18 update includes unemployment adjustment
Keep in mind not to file yet if you are waiting on state adjustments (my state didn't release new forms yet)
Re: H&R Block 3/18 update includes unemployment adjustment
I saw this in the update, but it didn't seem to apply the change to my IRA MAGI (by my count, I should now be in the deductible phaseout for a tIRA, but it still says I cannot deduct anything).
Re: H&R Block 3/18 update includes unemployment adjustment
Wow, this is 100% correct.JCH10400 wrote: ↑Thu Mar 18, 2021 7:04 pmI just did the update about an hour ago. What happened was I downloaded the update then my return automatically opened. The unemployment adjustment did not show up until I closed my return and the program and then reopened them. Maybe you have to do the same with Turbotax?
I downloaded the update, knowing that my federal taxes wouldn't change but my state taxes would show a higher refund. Nothing changed so I figured... oh well, guess it's the April 8th update for me.
I did what you said and bam, now it's updated properly.
This needs to get a lot of exposure because I wouldn't have thought to just randomly re-open my taxes. Weird bug, H&R Block.
Re: H&R Block 3/18 update includes unemployment adjustment
Very quick rollout for a modification of this type and some things may have been overlooked. Suggest you delete the unemployment income from your return, close and reopen your return and then reenter the unemployment income.
Re: H&R Block 3/18 update includes unemployment adjustment
These were pretty fast updates. I'd be inclined to wait for the April update to clean up a lot of loose ends. With the filing deadline moved, there isn't as much perceived pressure to file right now.
Don't trust me, look it up. https://www.irs.gov/forms-instructions-and-publications
Re: H&R Block 3/18 update includes unemployment adjustment
I think I'll just wait for the moment -- when I print it out, it is clear that on the traditional IRA deduction worksheet, they are not including the -$10,200 in their accounting for total income. As others have said, this was all done very quickly.
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Re: H&R Block 3/18 update includes unemployment adjustment
I've been waiting for TurboTax to update their software. I just logged in now to check but after re-entering my unemployment income I see no change in the tax due. I know they were hoping to have it completed by Thursday evening but I'm assuming they're still working on it.