Question

Federal return shows a lot more coming back since I already filed

Forum|Forum|5 years ago
May 4, 2021
1 reply
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I filed in March and have already received my refund. I just went in to turbotax to see if there was a difference due to the unemployment forgiveness. My refund shows $5500 more in federal return. When I look through the documentation the only place I see a change is under "Other Income and Losses". A few questions:

1.) how do I find out exactly what the changes are to verify I should be getting this extra money?

2.) Should I file an amended return and is turbotax correct?

S

SweetieJean

Employee

The program has been updated to reflect the new $10,200 deduction for that. You generally do not need to amend for Federal.

However, taxpayers would have to file an amended return if they did not originally claim the EITC or other credits, but now are eligible because the [unemployment comp] exclusion changed their income. These taxpayers may want to review their state tax returns as well.

IRS to recalculate taxes on unemployment benefits; refunds to start in May | Internal Revenue Service

See these re State:

How is my state taxing unemployment income? (intuit.com)

Do I need to amend my state return to update my un... (intuit.com)

fanfare

Employee

$5,500 is much more than you can get from the change in UI tax.

If you did not make a copy of your return when you filed, you can't know, because TurboTax changed the tax forms and your original return is gone and cannot be reconstructed.