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Unemployment compensation
I was told to amend my taxes by a turbo tax employee after receiving an email stating I didn’t need to do anything to receive my unemployment compensation. But I’m wondering if I do amend them will it affect my advanced ctc I’m receiving now?
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After you file
Yes amending will stop the advance CTC while it takes 6 months or more to process. If your ONLY thing that needed to change on the return was the unemployment then the IRS is doing that automatically for anyone eligible for more of a refund due to the exclusion ... they do NOT want amended returns for this item.
Not everyone will get more of a refund after the exclusion ... so you CAN use the amendment program to see what the change will eventually be if any ... just do NOT file the 1040X.
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After you file
I don’t wanna amend them but I wanna see if I’m getting a refund
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After you file
Yes ... use the amendment program to compute the change ... just do NOT mail or efile it.