DawnC
Expert Alumni

Deductions & credits

You can start the amendment in TurboTax to see what the changes are and then cancel the amendment and that will return your Form 1040 to the state it was in before you started the amendment.    And yes, your assumptions are correct.    All unemployment will be subtracted from AGI to determine modified AGI for purposes of determining whether or not you qualify for the exclusion.   

 

Since you had no unemployment income, the max you will be able to exclude on this 2020 tax return is $10,200 of your wife's unemployment compensation.   The IRS has stated they plan to start issuing out plus payments in July.   If you start the amendment to see the changes, make sure you go back through the stimulus questions to determine if you qualify for additional payments.  Search for stimulus in the search field and use the Jump to stimulus link to be taken to the questions.  

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