If I have already begun my refund, do I need to clear it and start over in order for the unemployment tax credit to reflect in my return?

[DoninGA]

No, there is no need to clear and start over.  We are waiting for guidance from the IRS for how to proceed concerning the unemployment compensation exclusion.

After the legislation has passed Congress and after the President has signed the legislation and after the IRS has written the rules, regulations and procedures.  And after the IRS has changed any forms or schedules to accept the tax code changes.  And after the IRS has approved the changes in the TurboTax program that apply to the tax code changes, then it will be available for the users of the tax preparation software.

This can take anywhere from several weeks to several months before it becomes available.

See this TurboTax support FAQ for information on the American Rescue Plan - https://ttlc.intuit.com/community/tax-topics/help/how-will-the-stimulus-package-impact-me/00/1393859

[Opus 17]

First, the IRS has not announced any procedures, we all have to wait.  Second, once the IRS has announced what it will do, it may take 1-2 months for them to actually do it.

Once the update happens, whenever that is, your tax return will automatically update and you won't have to start over.  But it may take quite a while.

I suggest waiting for instructions from the IRS.  You will be better off filing one return with the deduction, even if you have to wait a while and file late.  The other option is to file now and pay the tax, and then probably amend your return to claim a refund of the overpayment, which may take 6 months or more.  If you can't file by April 15, you ,must apply for an extension, and you will have to pay what you owe.  When the forms are ready and you actually file, you will get credit for your early payment and if that results in a refund, you will get that in the usual time.