You'll need to sign in or create an account to connect with an expert.
Go to this IRS website for unemployment compensation exclusion FAQ's - https://www.irs.gov/newsroom/2020-unemployment-compensation-exclusion-faqs
And these IRS websites for more information concerning the tax refund for the exclusion -
If the AGI on your return was below $150,000,
you qualify.
Q. How do I know if I should be expecting additional refund based on the (up to) $10,200 unemployment exclusion.
A. Prepare a test return with $10,200 less income and compare the result to the original return. You can use this tool
https://turbotax.intuit.com/tax-tools/calculators/taxcaster/?s=1
If your tax liability was already zero, it's unlikely that you will be getting more. But, it's possible, particularly if you become eligible for more EIC.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
APK01
Level 1
bonibaby21
New Member
olegyk
Level 1
DanTheDapperMan
Level 1
epmstone
New Member
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.