Turbotax just automatically amended my fed return to exempt the 1st $10k in unemployment received but had no affect- I'm not getting anything back. How could this be?

Is your income too high for this deduction?

Not sure. Went from 62k to 52k with this exemption. 

Due to how the reduction reduces your taxable  income or credits it is very possible that the exclusion would have no effect.   Compare your return before and after the change to see how your return is being affected.