Unemployment Exclusion

Yes

Here is the best timeline available for when it will be available:

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Today                                                                                                              Someday

Sarcastic - no they're not going to update.

Why would you think a professional tax software program would not update the software when they can?

They say they are working with the IRS but I cannot wait to see if they do actually correct the situation. Because I have clients hammering me with the question of when am I going to finish their returns and they do not want to hear "I am waiting on my professional software to fix the issue", I decided to just treat the first $10,200 as repaid as long as their income is below the $150,000 max limit for married. It shows as taxable above the $10,200 or $0 as the case may be and the word repaid appears beside the line but who cares - the bottom line is it excludes the unemployment amount received up to $10,200 or whatever amount they received if less.

Go to line 24 Other Taxable Income on the Other Income worksheet. It will allow the "UCE" description and monetary entry. Other wise you are required to over write the carryforward and E filing is most likely not an option. 

Return has been sent . Now if it gets processed? lol

Go to line 24 Other Taxable Income on the Other Income worksheet. It will allow the "UCE" description and monetary entry. Other wise you are required to over write the carryforward and E filing is most likely not an option. 

It appears to have been updated; opened a return with unemployment comp exceeding $10.2K and there was a credit applied without action on my part

Hey Everyone: Yes, it has! If you enter Unemployment Comp now, the program should automatically reduce it by up to $10,200. 

Why did somebody post this question in the middle of 2021 tax season? I thought I was missing a change of last minute of the law. This belongs to the tax year 2020.