Do i take the adjustment to unemployment income or...
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cigartrain
New Member

Do i take the adjustment to unemployment income or will the IRS make the adjustment of 10,200 ?

 
2 Replies
KathrynG3
Employee Tax Expert

Do i take the adjustment to unemployment income or will the IRS make the adjustment of 10,200 ?

The IRS will make the adjustment for you automatically if you filed before the legislation was enacted. The IRS asks that taxpayers do not amend. 

 

For more information, see: New Exclusion of up to $10,200 of Unemployment Compensation | Internal Revenue Service

rjs
Level 15
Level 15

Do i take the adjustment to unemployment income or will the IRS make the adjustment of 10,200 ?

If you did not file yet, TurboTax will automatically give you the $10,200 exclusion when you enter your 1099-G for unemployment. You do not have to do anything to get it. The exclusion will appear on Schedule 1 line 8.

 

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