TurboTax 2020 Unemployment Update: What You Need to Know

The TurboTax team is committed to providing accurate and reliable tax preparation services to its users. As part of our ongoing efforts, we are excited to announce an update to our software that addresses the 2020 increase standard deduction worksheet for taxpayers electing to take the standard deduction on their Arizona tax return.

If you have received unemployment benefits in 2020, it is essential to review your Form 1099-G carefully. The form reports the gross amount of unemployment compensation you have received, not the net amount after federal and state income taxes are subtracted. If your Form 1099-G does not match your records, please let us know immediately.

It's also important to note that in some cases, your Form 1099-G may be incorrect due to payments being returned to OED or repayments not being applied before the form was issued. Once you subtract federal and state income taxes from your Form 1099-G amount, it should match what you actually received.

If you have any questions or concerns about your unemployment benefits or tax return, there are several ways to reach us through our Ways to Contact Us page. We're here to help and provide guidance throughout the process.

In addition, if you need to file your taxes before receiving an amended Form 1099-G, the IRS has information on how to file without it. In these situations, we will send you an amended Form 1099-G after reviewing your benefit payments.

The TurboTax team is dedicated to providing accurate and reliable tax preparation services, and we are committed to helping our users navigate the complexities of taxation. With this update, we aim to make the process easier and more efficient for those who have received unemployment benefits in 2020.

If you have any further questions or concerns about this update or any other aspect of your tax return, please do not hesitate to reach out to us. We're here to help and provide guidance throughout the process.

Turbotax 2020 unemployment update