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watermellon5
New Member

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

 
3 Replies
MinhT1
Expert Alumni

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.

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Mike9241
Level 15

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.

macuser_22
Level 15

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.**
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