Why cant I just deduct 10200 from the amount I recieived instead of waiting for turbo tax to hear from the IRS that already passed this into law

posted

Connect with an expert

3 Replies

Why cant I just deduct 10200 from the amount I recieived instead of waiting for turbo tax to hear from the IRS that already passed this into law

No. You should not simply deduct $10,200 from your unemployment benefits.

TurboTax is still waiting for IRS guidance before updating their program.

Please read this TurboTax Help topic for more information.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

Why cant I just deduct 10200 from the amount I recieived instead of waiting for turbo tax to hear from the IRS that already passed this into law

doing the reduction in a way not approved by the IRS could end up delaying your refund for months.

Why cant I just deduct 10200 from the amount I recieived instead of waiting for turbo tax to hear from the IRS that already passed this into law

Simply deducting the $10,200 would also change the EIC, Child Tax Credit, Social Security tax, and several other thing that could make your tax return invalid.

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**

Still have questions?