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Deductions & credits
So here's a catch 22. I've not filed 2020 taxes yet. Waiting for Turbo Tax's updated info to account for the $10,200 reduction in tax liability related to unemployment. With that reduction and adjusted taxes, I'll be eligible for the $1400 stimulus check- which are being processed now. If I do not file my 2020 taxes, I will not be eligible for the check due to my income in 2019, changing siginificantly post layoff. Any suggestions? Is it better to file now and then amend?
March 14, 2021
7:20 PM