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Level 2
May 17, 2021
Solved

Refund

  • May 17, 2021
  • 1 reply
  • 5 views

Hello:

I filed my 2020 Taxes early on and got a Federal Tax refund of $4745.  However, I went back to Turbo Tax to file my GA state taxes and found my Federal refund significantly changed.  There is a higher amount showing , i.e. $6584.   How do I check and verify if I received the correct amount.  If I am eligible for the difference between the first refund and the current amount, how do I go about it? 

 

Thanks

Tom

    Best answer by DanaB27

    If you had unemployment benefits you do not need to file an amended return unless the calculations make you newly eligible for additional federal credits and deductions not already included on the original tax return. The IRS will make the adjustment automatically and issue a refund. Please see  IRS begins correcting tax returns for unemployment compensation income exclusion

     

    If your modified adjusted gross income (MAGI) is less than $150,000, then you can exclude up to $10,200 of unemployment compensation paid in 2020 from your taxable income. Amounts over $10,200 for each individual are still taxable.

    1 reply

    DanaB27Answer
    Level 15
    May 17, 2021

    If you had unemployment benefits you do not need to file an amended return unless the calculations make you newly eligible for additional federal credits and deductions not already included on the original tax return. The IRS will make the adjustment automatically and issue a refund. Please see  IRS begins correcting tax returns for unemployment compensation income exclusion

     

    If your modified adjusted gross income (MAGI) is less than $150,000, then you can exclude up to $10,200 of unemployment compensation paid in 2020 from your taxable income. Amounts over $10,200 for each individual are still taxable.

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    Level 2
    May 17, 2021

    Thank you so much for the quick answer.  Appreciate it.