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mxwhite
New Member

Is TurboTax supposed to update your refund amount from the unemployment tax exemption automatically?

 
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2 Replies
rjs
Level 15
Level 15

Is TurboTax supposed to update your refund amount from the unemployment tax exemption automatically?

The IRS, not TurboTax will recalculate your tax return for the unemployment exclusion and send you the additional refund. They will do it automatically if you received unemployment income, but you did not have the exclusion on the tax return that you filed, and your Adjusted Gross Income (AGI) is less than $150,000. You do not have to do anything to get the additional refund. It might take several months to get it. For details see the following IRS announcements.


IRS to recalculate taxes on unemployment benefits; refunds to start in May


IRS begins correcting tax returns for unemployment compensation income exclusion

 

rjs
Level 15
Level 15

Is TurboTax supposed to update your refund amount from the unemployment tax exemption automatically?

If the tax return that you filed did not have the unemployment exclusion, as of now I believe that TurboTax is leaving the tax return in TurboTax Online as it was when you originally filed it. So you will not see the updated refund amount in your tax return in TurboTax Online.

 

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