turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

Was our unemployment compensation of $20,400 taken off our taxes? If not why am i responsible?

Was our unemployment compensation taken off our income? If not why am I responsible for amending?
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

3 Replies

Was our unemployment compensation of $20,400 taken off our taxes? If not why am i responsible?

Have you already filed the 2020 tax return?

Was our unemployment compensation of $20,400 taken off our taxes? If not why am i responsible?

Yes

Was our unemployment compensation of $20,400 taken off our taxes? If not why am i responsible?


@macconstruction6 wrote:

Yes


The TurboTax online editions for tax year 2020 were just updated on 03/19 for the unemployment compensation exclusion.  Since you have already filed the 2020 tax return the exclusion was not included in your filed return.

 

Go to this IRS website for a statement concerning this issue - https://www.irs.gov/newsroom/irs-statement-american-rescue-plan-act-of-2021

 

For those who received unemployment benefits last year and have already filed their 2020 tax return, the IRS emphasizes they should not file an amended return at this time, until the IRS issues additional guidance.

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question