your return will not be updated.  changing the AGI on your 2020 return from what was on the filed return would probably prevent you from e-filing in 2021. the IRS will modify, but not amend, your 2020 filing for the UC exclsuion.  it may take many months for you to get the refund 

Thank you for the response. That is odd though. I have read many other people stating that theIR return was updated on TurboTax to reflect the $10,200 deduction from their AGI. They indicated that their return numbers physically changed and the AGI reflected $10,200 less than it did when they originally filed it. It also updated what their new return amount should be after the change. This is what I was expecting to happen. 

If you didn't file early or Turbo Tax updated your return,  your unemployment compensation will be on Schedule 1 line 7.  The exclusion will be on Schedule 1 Line 8 as a negative number. The result flows to Form 1040 Line 8.

The IRS doesn't update Turbo Tax.  But if you log back into your Turbo Tax Account it may update and show the new refund.  But they might have stopped doing that and put users returns back to the way it was actually filed.

TT accidentally changed the Online program when the unemployment exclusion was operational and quickly realized they should not have done that and undid the change putting all the early filed returns back to how they were originally filed so the 2020 AGI would transfer to the 2021 return correctly so you can efile seamlessly.