DanaB27
Expert Alumni

After you file

If you had unemployment benefits you do not need to file an amended return unless the calculations make you newly eligible for additional federal credits and deductions not already included on the original tax return. The IRS will make the adjustment automatically and issue a refund. Please see  IRS begins correcting tax returns for unemployment compensation income exclusion

 

If your modified adjusted gross income (MAGI) is less than $150,000, then you can exclude up to $10,200 of unemployment compensation paid in 2020 from your taxable income. Amounts over $10,200 for each individual are still taxable.

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