I recieved a W-2C from 2020 because of a bonus repayment. I went to amend in turbotax and this does not make any changes in my taxes. However, it seems to be automatically calculating the removal of unemployment benefits and showing a small refund.
I repaid my unemployment on my 2021 taxes and received credit there.
Do I need to file 2020 amendment in this case?
If so,
Do I only need to include the W-2C and 1040X or do I need to include the schedules that show the unemployment removed.
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If you are referring to the unemployment change in 2020 when the first $10,400 was made non taxable ? If so did you file before or after the tax law change ? If you filed before did the IRS make the correction to your return yet ? If they did then you had to start the return with the as the IRS corrected it and only then should you start the amendment process ...
Look at the form 1040X …
Column A should have the figures from the original return, Column C the corrected figures and Column B the differences between the other 2 which needs an explanation on page 2 of the form 1040X.
If you completed it correctly you will see an entry on either line 16 OR 18:
On line 16 should be the amount you paid with your original return. If you paid nothing already then this line should be zero.
On line 18 should be the amount of your original refund you received. If you have not received your refund yet then you need to wait for it. If the refund changes from what you expected then this line must reflect that change.
Then you will see your extra refund on line 22 OR the new balance due you need to pay on line 20.
Yes I am referring to the $10,400 unemployment non taxable. I filed before that change and did not receive the additional refund for taxes paid under unemployment. When I am on turbotax on the 1040X. The only difference between column A and column C is my unemployment amount. It also shows me as getting a small refund on line 22. None of this is anything I entered though so turbotax must have caught it at some point later. So if I were to file the amendment, I wouldn't know what needs included as far as schedules and documents.
I only went on there to start an amendment for the W-2C, but like I said that part didn't change anything.
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