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See this IRS news post concerning the unemployment compensation exclusion for tax year 2020 - https://www.irs.gov/newsroom/irs-completes-automatic-corrections-of-tax-year-2020-accounts-related-t...
If a taxpayer is eligible for the unemployment compensation exclusion and their account was not corrected by the IRS, they may need to file an amended 2020 tax return to claim the exclusion and any applicable non-refundable or refundable credits impacted by the exclusion.
See this TurboTax support FAQ for amending a tax return - https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-return/amend-change-correct-return-a...
See this IRS news post concerning the unemployment compensation exclusion for tax year 2020 - https://www.irs.gov/newsroom/irs-completes-automatic-corrections-of-tax-year-2020-accounts-related-t...
If a taxpayer is eligible for the unemployment compensation exclusion and their account was not corrected by the IRS, they may need to file an amended 2020 tax return to claim the exclusion and any applicable non-refundable or refundable credits impacted by the exclusion.
See this TurboTax support FAQ for amending a tax return - https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-return/amend-change-correct-return-a...
The IRS says they have finished the adjustments for the 2020 unemployment exclusion. See the following IRS announcement.
If you are eligible for the exclusion, you did not receive it, and you have not already filed an amended return for it, you should file an amended return (Form 1040-X) now.
You don't necessarily get a separate refund for the unemployment exclusion. You might have gotten it on your tax return, or you might not be eligible for it. You will only get an additional refund for the unemployment exclusion if all of the following are true.
If all four of those conditions are true, and you did not already receive the additional refund, you should file an amended return.
I guess I need to do an amended return. I was hoping since that article was dated 01/06 maybe the IRS hadn't gotten to my refund yet. I am wondering if I should file the amended return before I do my 2022 taxes, or if it matters.
Doesn't matter.
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