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llwerts
Returning Member

Filed electronically and received refund by direct deposit. Checked return later and found Turbotax had recalulated and an amended return is now required for an additional refund. Now concerned about the original calculation by Turbotax. What now?

 
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2 Replies

Filed electronically and received refund by direct deposit. Checked return later and found Turbotax had recalulated and an amended return is now required for an additional refund. Now concerned about the original calculation by Turbotax. What now?

Did you enter any unemployment? There was a big change for that.


You can exclude up to 10,200 of unemployment unless your income is over 150,000. The IRS will recalculate your return for the new unemployment exemption if you already filed.


You can log back into online or open your return and it should automatically update your return and show you the new refund. But the updated return won't be sent. The IRS will adjust it for you. You may need to update the Desktop program for it.


If you have filed. The IRS will recalculate your return for the new unemployment exemption 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.
https://www.irs.gov/newsroom/irs-to-recalculate-taxes-on-unemployment-benefits-refunds-to-start-in-m...

 

llwerts
Returning Member

Filed electronically and received refund by direct deposit. Checked return later and found Turbotax had recalulated and an amended return is now required for an additional refund. Now concerned about the original calculation by Turbotax. What now?

No unemployment involved.  That's what causes concern.

 

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