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New Member
posted Mar 19, 2021 11:06:38 AM

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

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3 Replies
Expert Alumni
Mar 19, 2021 11:29:45 AM

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.

Level 15
Mar 19, 2021 12:31:35 PM

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

Level 15
Mar 19, 2021 12:48:54 PM

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.