Was our unemployment compensation of $20,400 taken off our taxes? If not why am i responsible?

Forum|Forum|5 years ago
March 20, 2021
3 replies
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Was our unemployment compensation taken off our income? If not why am I responsible for amending?

TurboTax Deluxe Online

DoninGA

Level 15

Have you already filed the 2020 tax return?

macconstruction6Author

Level 2

Yes

DoninGA

Level 15

@macconstruction6 wrote:

Yes

The TurboTax online editions for tax year 2020 were just updated on 03/19 for the unemployment compensation exclusion. Since you have already filed the 2020 tax return the exclusion was not included in your filed return.

Go to this IRS website for a statement concerning this issue - https://www.irs.gov/newsroom/irs-statement-american-rescue-plan-act-of-2021

For those who received unemployment benefits last year and have already filed their 2020 tax return, the IRS emphasizes they should not file an amended return at this time, until the IRS issues additional guidance.