2237144
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

Due to the Fed $10.2k exemption on unemployment, how can I adjust the tax payment amount on my 2020 return already filed? I don't want to overpay.

 
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Reply
AmyC
Expert Alumni

Due to the Fed $10.2k exemption on unemployment, how can I adjust the tax payment amount on my 2020 return already filed? I don't want to overpay.

You can open your return and see the changes to get the corrected amount due.  Then you can pay at Payments.

 

The IRS will adjust if a credit is already on the return.

 

You can amend if the credit is not on your return and should be - after the IRS is done.

 

 

Some credits that could be added:

 

Earned Income Credit eligibility:

The greater of AGI or earned income must be less than:

  • $15,820 ($21,710 for MFJ) with no qualifying children,
  • $41,756 ($47,646 for MFJ) with one qualifying child,
  • $47,440 ($53,330 for MFJ) with two qualifying children, or•$50,954 ($56,844 for MFJ) with three or more qualifying children. 

Child Tax Credit

 

Education credit, retirement savings and more!

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question