I e-filed my 2020 return on 3/30/2021 and a TurboTax update has now increased my Federal Refund amount by $835, which is the amount originally reported on 1040 line 17. The update leaves that line blank now.
This amount comes from Part 1 of Schedule 2, which is Additional Taxes. Originally, my eFile had $835 on Line 2 and 3 of Schedule 2, which is "Excess advance premium tax credit repayment. Attach Form 8962."
The update makes Part 1 blank entirely.
Form 8962 shows the $835 as an amount reported in 1095-A for Health Insurance Marketplace Statement.
This change in tax policy changes my tax return from $2,766, which I received 4/7/21, to $3,601 in the Federal Return value in the Turbo Tax 2020 app.
I noticed the TurboTax Instructions page didn't change the Federal Return value, which shows Amount to be Refunded still as $2,766.00.
It's now November and was told I should expect to see the additional $835.00 during the summer.
Are there additional steps I can take to learn the status of my adjustment?
Go to this IRS website for information for the unemployment compensation tax refund - https://www.irs.gov/newsroom/irs-issues-another-430000-refunds-for-adjustments-related-to-unemployment-compensation
Go to this IRS website for information for the unemployment compensation tax refund - https://www.irs.gov/newsroom/irs-issues-another-430000-refunds-for-adjustments-related-to-unemployment-compensation