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New Member
posted May 27, 2021 5:50:13 PM

Do i need to amend 2020 fed return due to non taxing of first 10,200 of unemployment wages?

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2 Replies
Level 15
May 27, 2021 5:52:25 PM

If you filed before the $10,200 unemployment exclusion, the IRS will recalculate your return for you. There is no need for taxpayers to file an amended return unless the calculations make the taxpayer newly eligible for additional federal credits and deductions not already included on the original tax return.


See this new IRS announcement May 14, 2021
https://www.irs.gov/newsroom/irs-begins-correcting-tax-returns-for-unemployment-compensation-income-exclusion-periodic-payments-to-be-made-may-through-summer


You may need to amend your state return
https://ttlc.intuit.com/community/state-taxes/help/do-i-need-to-amend-my-state-return/00/2134732

 

Level 15
May 27, 2021 5:52:32 PM