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New Member
posted Apr 1, 2021 10:17:23 AM

Do I need to do an amended return if I had over $10,000 of unemployment income in 2020?

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1 Replies
Level 15
Apr 1, 2021 10:20:30 AM

If you filed a 2020 tax return reporting your unemployment compensation but before the exclusion was available, then do not amend your 2020 tax return.

The IRS will apply the exclusion and refund any amount based on the changes to your tax return.  Go to this IRS website for information - https://www.irs.gov/newsroom/irs-to-recalculate-taxes-on-unemployment-benefits-refunds-to-start-in-may