Why is my other income negative amount

[jcn0360]

When I check how Turbotax calculated my total income it shows a large negative amount for other income example $-10,000 of other income.   I do not have any location where I would have entered that.

[fanfare · Accepted solution]

that would not happen to be $10,200 ? which is the amount of the UI taxable amount exclusion .

Did you report Unemployment compensation ?

[jcn0360]

Yes was $10,200 amount

And yes got UI from small business that had no income due to pandemic shutdowns

    But had taxes taken out at the time

Is that recent then ?

      Meaning it has been about a month or so since I last logged into Turbotax and at

         the time that amount was not there

Thanks

[fanfare]

you are one of the few not freaking over the UI exclusion in bill just signed by the president.

That is the recently recommended procedure put out by the IRS to reduce your tax.

TurboTax just updated.

Always print a copy of your completed tax return for your records, and review it carefully before e-Filing.
You will need it if you are audited by the IRS, or to amend if a TurboTax update changes your return or for any other reason,
SUCH AS, Congress changes the tax code in mid-season.
AND, to find your AGI next year.

[fanfare]

Note: IRS says:
don't amend until we think about your situation some more.

[Kelso24]

Should I wait to file or file now? My return increased, but afraid to file and have to pay back later 

[fanfare]

You are one of the few people freaking out about getting an increased refund,

rather than about not getting an increased refund.

[npierson7]

Yes, you can file now. Other income could be negative amount for various reasons and it offsets your taxable income. In your case it's most likely your unemployment compensation adjustment.