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I already completed my taxes but the American Rescue Plan would mean that the first $10,200 of my unemployment compensation would not be taxable. How do I correct this?

 
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1 Reply
MinhT1
Expert Alumni

I already completed my taxes but the American Rescue Plan would mean that the first $10,200 of my unemployment compensation would not be taxable. How do I correct this?

The new ARP bill has exempted from taxation up to $10,200 of unemployment benefits received in 2020 for households with an annual income under $150,000..

 

However, this bill has just been signed on March 11. Please be patient. The IRS will provide guidance within two to three weeks on what taxpayers need to do. And TurboTax will always timely assist their customers.

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