Can you use turbotax to see if you will get and additional refund because of the unemployeement deduction

[Critter-3]

Yes ... first save a PDF and the .taxfile of the original return  then use the amendment process to see the difference if any ... do NOT file this amended return. 

[xmasbaby0]

Do NOT send in an amended return for the extra unemployment refund.   The IRS does not want amended returns for this unless some other credit  you were not previously getting on your return is affected---so even f you "look" to see if you are getting the extra refund---do not file the amended return.  WAIT for the IRS to issue the refund---it will happen sometime during the next several months.

The IRS began to send out the additional refund checks for tax withheld from unemployment in May.  The refunds are being sent out in batches—starting with the simplest returns first.   If you are eligible for the extra refund for federal tax that was withheld from your unemployment the IRS will be sending you an additional refund sometime during the next several months.  TurboTax cannot track or predict when it will be sent.  The IRS has not provided a way for you to track it, so all you can do is wait for the refund to arrive.

https://ttlc.intuit.com/community/tax-topics/help/how-do-i-get-the-new-unemployment-benefits-if-i-ve...

Please read this very recent news from the IRS:

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

https://www.irs.gov/newsroom/irs-begins-correcting-tax-returns-for-unemployment-compensation-income-...

https://ttlc.intuit.com/community/tax-credits-and-deductions/help/am-i-eligible-for-a-new-credit-or-...

https://www.irs.gov/newsroom/2020-unemployment-compensation-exclusion-faqs

https://www.irs.gov/faqs/irs-procedures/forms-publications/new-exclusion-of-up-to-10200-of-unemploym...

[tabakerka]

Hi, I see your post and I'm this situation where my Federal and State original refunds don't match newly calculated by Turbotax results. It shows greater refund amounts. I've been waiting for Federal refund to be completed before any action like amend. They just completed my original taxes in July, but still amount of the refund is much smaller that TurboTax showing. You saying DON'T submit amend. So, how will I get differences in tax refund back without sending an Amend? Can you explain this to me, please.

Thanks.

[tabakerka]

See your reply. But this related to Federal refund. How about State tax refund? I see  the difference in couple hundreds of dollars from original refund amount?

Do I need to submit amend for state? 

Thanks.

[VolvoGirl]

If you have filed early before the exclusion, the IRS will recalculate your return for the new 10,200 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.

Just keep waiting.  The IRS is sending them out in batches over the summer.

See IRS article May 14, 2021

https://www.irs.gov/newsroom/irs-begins-correcting-tax-returns-for-unemployment-compensation-income-...

And see,

https://www.irs.gov/newsroom/irs-sending-more-than-2-point-8-million-refunds-to-those-who-already-pa...

Do you need to amend your state return?

https://ttlc.intuit.com/community/state-taxes/help/do-i-need-to-amend-my-state-return/00/2134732

If you didn't file early or Turbo Tax updated your return,  your unemployment compensation will be on Schedule 1 line 7.  The exclusion will be on Schedule 1 Line 8 as a negative number. The result flows to Form 1040 Line 8.

The IRS doesn't update Turbo Tax.  But if you log back into your Turbo Tax Account it may update and show the new refund.  But they might have stopped doing that.

[xmasbaby0]

What state?

You *might* need to amend your state return for unemployment that was taxed by your state.

https://ttlc.intuit.com/community/state-taxes/help/do-i-need-to-amend-my-state-return/00/2134732

https://www.kiplinger.com/taxes/state-tax/602307/taxes-on-unemployment-benefits-a-state-by-state-gui...

[Critter-3]

The IRS is processing the original returns and sending the original refund FIRST and then recalculating the return for the unemployment exclusion and sending any extra refund in a second payment.  Do not send in an amended return as doing so may further delay your refund.  Patience while the IRS wades thru the millions of returns they still need to process ... hopefully this process will be completed by summer's end. 

[tabakerka]

Thank you for your reply.

My Federal tax refund was "processing" since March. As I mentioned, IRS just approved it a week ago. I was expecting to see recalculated (greater) amount in my refund due to new unemployment deduction low. But didn't happen. I received same $ amount as i submitted.

My state is Connecticut. So, I assume, I need to send amendment to state for a refund differences. Right? State will not do same as Federal. 

But I'm not sure if I should wait longer for Federal? They just completed review my taxes and no changes. Not really sure if I need to send amendment to Federal IRS as well or keep wait for another few months?

Thanks

[xmasbaby0]

The "extra" unemployment refund is just that---an "extra" refund.   It will not be included when you receive the refund from your original tax return----you have to keep waiting.

  That extra federal refund will come sometime in the summer.

 See the Connecticut State Department of Revenue Services alert for more information.

[tabakerka]

Thank you very much. Your info was really helpful.

[xmasbaby0]

https://portal.ct.gov/-/media/DRS/Publications/TSSB/TSSB-2021-2.pdf