Question

I filed 2020 taxes on pua unemployment. I had taxes taken out throughout the year. Now we get that $ back. Do I file amend? Monday deadline !

Forum|Forum|5 years ago
May 16, 2021
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You do not need to file an amended return unless the calculations make you newly eligible for additional federal credits and deductions not already included on the original tax return. Please see IRS begins correcting tax returns for unemployment compensation income exclusion; periodic payments to be made May through summer.

If your modified adjusted gross income (MAGI) is less than $150,000, then you can exclude up to $10,200 of unemployment compensation paid in 2020 from your taxable income. Amounts over $10,200 for each individual are still taxable.

If you need to make an amendment then please wait until your original return has been processed and see How to amend a tax return for instructions.

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