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2020 Unemployment Exclusion - Do I need to Fix Filed Return?
I filed my 2020 return with Turbotax prior to the passing of the tax law which allowed for $10,200 of Unemployment compensation to be tax free. Over the summer I received a letter and refund from the IRS stating it was due to the tax law change for UI. Do I need to do anything to the 2020 filed return in TurboTax so that it imports correctly into 2021 or is there something I need to do on the 2021 return to cover it? Last thing I want is a mismatch and the IRS holds my refund!
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‎January 25, 2022
6:25 PM