Ok on turbo tax when you first log in and it has the option to download and print out your return. I clicked on it and it shows my new AGI and and included the tax break. So do I have to take that new information and just admend or has it already been done? I reason I ask is be I don’t see the change on the screen I just see my old tax information
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@Turbotax should I admend? I don’t know how to do this but I got email saying that I qualify for the unemployment 10,200 tax free credit. I don’t know how I go about this and I need help. I don’t know how to admend or how that works.
You may not need to amend. Hopefully, the link below will answer some of your questions.
Hope this helps.
Generally, you are advised to not amend your return if you qualify for the unemployment exclusion. However, if excluding unemployment make you eligible for additional federal credits and deductions not already included on the original tax return, then you should amend your return.
For example, the IRS can adjust returns for those taxpayers who claimed the Earned Income Tax Credit (EITC) and, because the exclusion changed the income level, may now be eligible for an increase in the EITC amount which may result in a larger refund. However, taxpayers would have to file an amended return if they did not originally claim the EITC or other credits but now are eligible because the exclusion changed their income.
You can read the IRS article here.
im needing to admend my 2020 taxes ive been putting it off becuse i didnt really know were to start
@dlegg8815 wrote:
im needing to admend my 2020 taxes ive been putting it off becuse i didnt really know were to start
An amended return, Form 1040-X, can only be printed and mailed to the IRS if the original tax return was not e-filed. The IRS will take up to 16 weeks or longer to process an amended tax return.
Before starting to amend the tax return, wait for the tax refund to be received or the taxes due to be paid and processed by the IRS.
See this TurboTax support FAQ on amending a tax return originally completed and filed using the 2020 TurboTax editions - https://ttlc.intuit.com/community/amending/help/how-do-i-amend-my-return/01/27439
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