Hello, question. I received my return earlier this year prior to the tax law change for unemployment. Why does Turbo tax now show a higher amount than what I actually received? I didn't amend or change anything either but my old amount compared to the new one has a pretty big difference.
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The IRS is resolving these issues and refunding the tax paid on the first $10,200 of unemployment. That will increase the amount of your refund or reduce the amount owed for 2020.
the turbotax people have decided to change your return back and forth.
Sometimes your additional refund is shown and sometimes it is not.
They only do it to annoy because they know it teases.
They shouldn't have done that to me. It really has/had me thinking I'm expecting over $4000 with the new tax change only to only get $1600 from IRS after my initial return.
Ok ... first for the online program only ... they changed the returns when they added the unemployment & PTC changes to the program but then changed it back so that the AGI from the original return would be passed thru to the 2021 program to make efiling easier.
But then they put the changes back to make the return reflect the changes the IRS will eventually make to the return so that those who need to amend the return has the column A on the 1040X correct place to start.
However this is not really as helpful as it sounds like because when the return was updated by the 2 changes not only did it update the credits already on the return it ALSO added ones that were not on the original return which is what needs to be amended to add those so this year's mid season changes have made a total mess of things ... we can thank congress for the impossible position a lot of people find themselves in.
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