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New Member
posted Apr 10, 2021 5:24:21 PM

I filed my 2020 taxes and reported the unemployment I received. Got taxed on my unemployment but a recent law change makes them untaxable. Do I need to re-file?

Yes I already received the amount I was told was coming originally. This new law was just unexpected and I was wondering if I will get the originally taxed amount back.

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2 Replies
Level 15
Apr 10, 2021 5:25:45 PM

If you already filed and didn't get the 10,200 unemployment exclusion you do not need to amend.  The IRS will be adjusting it for you.  See,

https://www.irs.gov/newsroom/irs-to-recalculate-taxes-on-unemployment-benefits-refunds-to-start-in-may

 

You can log back into 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.

 

If you have unemployment you can exclude up to 10,200 if your income is under $150,000.  The exclusion will be on Schedule 1 Line 8 as a negative number. Your unemployment compensation will be on Line 7 of Schedule 1. The result flows to Form 1040 Line 8.

New Member
Apr 14, 2021 1:23:35 PM

Logged back in, but it is not showing me an adjusted amount. Still showing the same amount I received. I know the unemployment affected my return because it made them take a good 75%. I also made way under 150k last year so I know I'm in the applicable percent. Is there some special way for me to see the adjusted amount or should I not worry yet?