Updated Refund Amount

Forum|Forum|5 years ago
March 27, 2021
2 replies
7 views

I received unemployment in 2020. I've already filed my taxes and received my federal and state refunds and those amounts show when I first log in to TurboTax. Since the latest stimulus bill has passed, which includes a provision about unemployment, the IRS has announced that they will automatically update already-filed tax returns (we don't need to file an amendment). When I click on the "Amend (change) my return", it shows a larger amount for my federal and state returns. Does this mean TT has already updated my return and I can expect to receive the difference at some point or is this a glitch?

Not A Product Question

Best answer by LenaH

If you have not updated anything else on your return, then it is likely that the refund showing is the new refund amount and you will be receiving the difference.

To double-check if unemployment is being removed on your return, please follow the instructions below:

Click on Tax Tools.
Click on Tools.
Click View Tax Summary.
Click on Preview my 1040.
Scroll down to Schedule 1, Part 1. You will see your unemployment on Line 7 and the deduction of up to $10,200 on Line 8.

I have attached a picture below for additional guidance.

If you see your unemployment being removed on Line 8, and you made no additional changes to your return, then you should be getting the difference of the refund showing currently versus the refund already received.

LenaH

Answer

Employee Tax Expert

If you have not updated anything else on your return, then it is likely that the refund showing is the new refund amount and you will be receiving the difference.

To double-check if unemployment is being removed on your return, please follow the instructions below:

Click on Tax Tools.
Click on Tools.
Click View Tax Summary.
Click on Preview my 1040.
Scroll down to Schedule 1, Part 1. You will see your unemployment on Line 7 and the deduction of up to $10,200 on Line 8.