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March 24, 2021
Question

Do I need to amend my 2020 taxes for a refund on my unemployment?

  • March 24, 2021
  • 1 reply
  • 0 views
News says "don't amend, refund will come" and others say " amend", what is it?

1 reply

March 24, 2021

No, you do not need amend your return.

 

"If you have already filed your 2020 Form 1040 or 1040-SR, there is no need to file an amended return (Form 1040-X) to figure the amount of unemployment compensation to exclude. The IRS will refigure your taxes using the excluded unemployment compensation amount and adjust your account accordingly. The IRS will send any refund amount directly to you."(IRS)

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