topic If i already received my refund for 2020 but now im eligible for 10,200 unemployment deduction what should i do? in Get your taxes done using TurboTax

If i already received my refund for 2020 but now im eligible for 10,200 unemployment deduction what should i do?

1ant21 — Sat, 06 Mar 2021 23:44:36 GMT

I received my refund now in this new bill im eligible for 10,200 deduction on unemployment do i need to amend or will irs audit me?

Re: If i already received my refund for 2020 but now im eligible for 10,200 unemployment deduction what should i do?

macuser_22 — Sat, 06 Mar 2021 23:53:14 GMT

Wait and see. It is not law yet and still might get changed. The Senate passed it with changes and now it goes back to the House where it can be changed more.

Then the IRS must write the rules and regulations before that questions can be answered.

Re: If i already received my refund for 2020 but now im eligible for 10,200 unemployment deduction what should i do?

DoninGA — Sat, 06 Mar 2021 23:53:25 GMT

Until the IRS has written the regulations and procedures there is nothing for you to do. This could take anywhere from several weeks to several months before all the rules and regulations to change the tax code are codified.

Re: If i already received my refund for 2020 but now im eligible for 10,200 unemployment deduction what should i do?

macuser_22 — Sun, 07 Mar 2021 00:14:11 GMT

Browsing H.R. 1319 I see nothing in it that is retroactive to 2020. It gives additional unemployment benefits for the 2021 tax year.

Re: If i already received my refund for 2020 but now im eligible for 10,200 unemployment deduction what should i do?

1ant21 — Sun, 07 Mar 2021 00:42:51 GMT

Im confused because where i read it says the first 10k on your 2020 unemployment benefits

Re: If i already received my refund for 2020 but now im eligible for 10,200 unemployment deduction what should i do?

macuser_22 — Sun, 07 Mar 2021 00:50:43 GMT

@1ant21 wrote:

Im confused because where i read it says the first 10k on your 2020 unemployment benefits

I might have missed that since I quickly browsed the bill, but under the unemployment section §9963 I did not see that. What section do you find that in?

Re: If i already received my refund for 2020 but now im eligible for 10,200 unemployment deduction what should i do?

1ant21 — Sun, 07 Mar 2021 00:53:46 GMT

I read it in an article not the bill i read so many that i dont remember which one it could of been a cnn article