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Level 1
posted May 10, 2021 6:44:51 AM

The new unemployment exclusion drops my AGI below the EITC threshold. IRS.gov says to amend returns to claim new credits. Is the necessary form available on TT yet?

started amending return and cant find where to add the exclusion. Do we have to wait for a new 1099g from my state?

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1 Replies
Expert Alumni
May 10, 2021 7:16:05 AM

Yes, the exclusion is automatically added when you open your amended return. If you qualify the unemployment exclusion is deducted on line 8 of Schedule 1.

 

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.

 

No, you do not wait for a new 1099-G.