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Level 1
posted Apr 28, 2021 9:46:39 PM

Should I amend my tax return? The email Intuit sent seems to say yes. "Amend Turbo Tax Online" seems to say no.

When I log in to my account initially - it shows the refund of $2655 which TT calculated when I filed my return back in January. However, when click on "Amend Turbo Tax Online", it shows "Federal Refund $7,423" at the top of the page. Is that my refund due to the new tax law? Do I need to amend?

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1 Replies
Level 15
Apr 29, 2021 6:51:25 AM

Did you report a 1099-G for unemployment comp?  The program has been updated to reflect the new $10,200 deduction for that.  You generally do not need to amend for Federal.

 

However, taxpayers would have to file an amended return if they did not originally claim the EITC or other credits, but now are eligible because the [unemployment comp] exclusion changed their income.  These taxpayers may want to review their state tax returns as well.

IRS to recalculate taxes on unemployment benefits; refunds to start in May | Internal Revenue Service

 

See these re State:

How is my state taxing unemployment income? (intuit.com)

Do I need to amend my state return to update my un... (intuit.com)