Do I need to amend my return I already submitted for the The bill also makes the first $10,200 of unemployment income tax-free?

[cr204665]

I had around 9,000 in unemployment but already filed my taxes. Should I amend or would this not change my taxes?

[DoninGA]

You will have to amend your 2020 tax return to get the unemployment compensation exclusion.  But not until the IRS provides guidance.

After the legislation has passed Congress and after the President has signed the legislation and after the IRS has written the rules, regulations and procedures.  And after the IRS has changed any forms or schedules to accept the tax code changes.  And after the IRS has approved the changes in the TurboTax program that apply to the tax code changes, then it will be available for the users of the tax preparation software.

This can take anywhere from several weeks to several months before it becomes available.

See this TurboTax support FAQ for information on the American Rescue Plan - https://ttlc.intuit.com/community/tax-topics/help/how-will-the-stimulus-package-impact-me/00/1393859

[xmasbaby0]

https://ttlc.intuit.com/community/tax-topics/help/how-will-the-stimulus-package-impact-me/01/1393859...

You are among millions who have now been affected by a mid-tax season change in the tax law.  Patience will be necessary.

TurboTax will update the software for the unemployment but there is no timeline yet.

  If you have not e-filed yet—-wait.   And if you already e-filed and want to amend for this—WAIT.

[SweetieJean]

Looks like you might not have to amend for Federal, but State is still unknown:

The IRS is moving to issue refunds for Americans who paid taxes on $10,200 in unemployment benefits ...