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ryonts
New Member

Unemployment income

I have already filed but now the unemployment is non taxed. I went to do an amended but Turbo tax showed no difference. Please advise.

2 Replies
xmasbaby0
Level 15

Unemployment income

https://ttlc.intuit.com/community/tax-topics/help/how-will-the-stimulus-package-impact-me/01/1393859...

 

 

 

You are among millions who have now been affected by a mid-tax season change in the tax law.  Patience will be necessary.

TurboTax will update the software for the unemployment but there is no timeline yet.

  If you have not e-filed yet—-wait.   And if you already e-filed and want to amend for this—WAIT.

 

Please read this very recent news from the IRS:

 

https://www.irs.gov/newsroom/irs-statement-american-rescue-plan-act-of-2021

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
DoninGA
Level 15

Unemployment income

Do not try and amend the 2020 tax return since the Form 1040-X has not been finalized.

The IRS Form 1040-X for amending a 2020 tax return is scheduled to be available on 03/25/2021 (subject to change)

 

See this TurboTax support FAQ for information for the unemployment compensation exclusion - https://ttlc.intuit.com/community/tax-topics/help/how-do-i-claim-the-new-unemployment-benefits-in-tu...

 

Also see this IRS statement - https://www.irs.gov/newsroom/irs-statement-american-rescue-plan-act-of-2021

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