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Do i take the adjustment to unemployment income or will the IRS make the adjustment of 10,200 ?
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April 6, 2021
12:25 PM
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Get your taxes done using TurboTax
The IRS will make the adjustment for you automatically if you filed before the legislation was enacted. The IRS asks that taxpayers do not amend.
For more information, see: New Exclusion of up to $10,200 of Unemployment Compensation | Internal Revenue Service
April 6, 2021
12:37 PM
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Get your taxes done using TurboTax
If you did not file yet, TurboTax will automatically give you the $10,200 exclusion when you enter your 1099-G for unemployment. You do not have to do anything to get it. The exclusion will appear on Schedule 1 line 8.
April 6, 2021
12:45 PM