Hello:
I filed my 2020 Taxes early on and got a Federal Tax refund of $4745. However, I went back to Turbo Tax to file my GA state taxes and found my Federal refund significantly changed. There is a higher amount showing , i.e. $6584. How do I check and verify if I received the correct amount. If I am eligible for the difference between the first refund and the current amount, how do I go about it?
Thanks
Tom
You'll need to sign in or create an account to connect with an expert.
If you had unemployment benefits you do not need to file an amended return unless the calculations make you newly eligible for additional federal credits and deductions not already included on the original tax return. The IRS will make the adjustment automatically and issue a refund. Please see IRS begins correcting tax returns for unemployment compensation income exclusion
If your modified adjusted gross income (MAGI) is less than $150,000, then you can exclude up to $10,200 of unemployment compensation paid in 2020 from your taxable income. Amounts over $10,200 for each individual are still taxable.
If you had unemployment benefits you do not need to file an amended return unless the calculations make you newly eligible for additional federal credits and deductions not already included on the original tax return. The IRS will make the adjustment automatically and issue a refund. Please see IRS begins correcting tax returns for unemployment compensation income exclusion
If your modified adjusted gross income (MAGI) is less than $150,000, then you can exclude up to $10,200 of unemployment compensation paid in 2020 from your taxable income. Amounts over $10,200 for each individual are still taxable.
Thank you so much for the quick answer. Appreciate it.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
DoctorWho
Level 5
sj6148
New Member
msigler38
New Member
tessagibs
New Member
Tyler8907
Returning Member