https://ttlc.intuit.com/community/tax-credits-deductions/discussion/child-is-21-full-time-student-why-is-her-unemplyment-going-again-my-taxable-income/01/2101673#M197368 Wed, 17 Mar 2021 23:26:05 GMT em262 2021-03-17T23:26:05Z https://ttlc.intuit.com/community/tax-credits-deductions/discussion/child-is-21-full-time-student-why-is-her-unemplyment-going-again-my-taxable-income/01/2101673#M197368 Wed, 17 Mar 2021 23:26:05 GMT https://ttlc.intuit.com/community/tax-credits-deductions/discussion/child-is-21-full-time-student-why-is-her-unemplyment-going-again-my-taxable-income/01/2101673#M197368 em262 2021-03-17T23:26:05Z https://ttlc.intuit.com/community/tax-credits-deductions/discussion/re-child-is-21-full-time-student-why-is-her-unemplyment-going-again-my-taxable-income/01/2101744#M197370 <P>Your dependent student had "unearned " income that is causing the "kiddie tax" to kick in.&nbsp;&nbsp;</P> <P>&nbsp;</P> <P class="p1"><STRONG>KIDDIE TAX</STRONG></P> <P class="p2"><SPAN class="s1"><A href="https://ttlc.intuit.com/questions/1900671-what-is-the-kiddie-tax" target="_blank">https://ttlc.intuit.com/questions/1900671-what-is-the-kiddie-tax</A></SPAN></P> <P class="p2">&nbsp;</P> <P class="p2"><SPAN class="s1">And... for unemployment income....</SPAN></P> <P class="p2">&nbsp;</P> <P class="p1"><A href="https://ttlc.intuit.com/community/tax-topics/help/how-will-the-stimulus-package-impact-me/01/1393859#U1393859" target="_blank">https://ttlc.intuit.com/community/tax-topics/help/how-will-the-stimulus-package-impact-me/01/1393859#U1393859</A></P> <P class="p2">&nbsp;</P> <P class="p1">You are among millions who have now been affected by a mid-tax season change in the tax law.<SPAN class="Apple-converted-space">&nbsp; </SPAN>Patience will be necessary.</P> <P class="p1">TurboTax will update the software for the unemployment but there is no timeline yet.</P> <P class="p3"><SPAN class="Apple-converted-space">&nbsp; </SPAN>If you have not e-filed yet—-wait. <SPAN class="Apple-converted-space">&nbsp; </SPAN>And if you already e-filed and want to amend for this—WAIT.</P> <P class="p4">&nbsp;</P> <P class="p3"><SPAN class="s1"><A href="https://ttlc.intuit.com/community/tax-topics/help/how-do-i-get-the-new-unemployment-benefits-if-i-ve-already-filed-my-taxes/00/2081053" target="_blank">https://ttlc.intuit.com/community/tax-topics/help/how-do-i-get-the-new-unemployment-benefits-if-i-ve-already-filed-my-taxes/00/2081053</A></SPAN></P> <P class="p4">&nbsp;</P> <P class="p4">&nbsp;</P> <P class="p3">Please read this very recent news from the IRS:</P> <P class="p4">&nbsp;</P> <P class="p3"><A href="https://www.irs.gov/newsroom/irs-statement-american-rescue-plan-act-of-2021" target="_blank">https://www.irs.gov/newsroom/irs-statement-american-rescue-plan-act-of-2021</A></P> Wed, 17 Mar 2021 23:38:00 GMT https://ttlc.intuit.com/community/tax-credits-deductions/discussion/re-child-is-21-full-time-student-why-is-her-unemplyment-going-again-my-taxable-income/01/2101744#M197370 xmasbaby0 2021-03-17T23:38:00Z https://ttlc.intuit.com/community/tax-credits-deductions/discussion/re-child-is-21-full-time-student-why-is-her-unemplyment-going-again-my-taxable-income/01/2101771#M197374 <P><A href="https://ttlc.intuit.com/community/income/help/what-is-the-kiddie-tax/00/25913" target="_blank">What is the 2020 Kiddie Tax?</A></P> Sun, 21 Mar 2021 18:19:14 GMT https://ttlc.intuit.com/community/tax-credits-deductions/discussion/re-child-is-21-full-time-student-why-is-her-unemplyment-going-again-my-taxable-income/01/2101771#M197374 npierson7 2021-03-21T18:19:14Z