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You will have to amend the tax return that was filed to get the unemployment compensation exclusion. But not yet since the IRS has not provided guidance on the procedure.
See this TurboTax support FAQ for information on the American Rescue Plan - https://ttlc.intuit.com/community/tax-topics/help/how-will-the-stimulus-package-impact-
thank you
Are there any updates regarding my unemployment benefits received in 2020 that are now considered non-taxable after my return has already been filed & a refund issued based on prior unemployment payments being considered taxable income. Please advise -- thank you
@jlp54 wrote:
Are there any updates regarding my unemployment benefits received in 2020 that are now considered non-taxable after my return has already been filed & a refund issued based on prior unemployment payments being considered taxable income. Please advise -- thank you
Yes, see this IRS website for information - https://www.irs.gov/newsroom/irs-to-recalculate-taxes-on-unemployment-benefits-refunds-to-start-in-m...
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