Question

HELP! mailed return haven't heard back. Now my refund has changed, down $2000. Looks like unemployment 10200 was removed. My EIC dropped

Forum|Forum|5 years ago
April 6, 2021
1 reply
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Mailed in return over a month ago
Return showing not processed but turbotax has new tax form showing AGI lowered by $10200
Why am i getting no child tax credit now
And a smaller EIC?

TurboTax Self Employed Online

S

SweetieJean

Employee

TT has updated the program to show the new Unemployment Comp deduction. You do not need to amend for Federal.

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

EITC is calculated two ways: (1) based on earned income (which does not include Unemployment Comp), and (2) based on AGI (which does). You then get the lower of the two. Since your AGI went down, so did your EITC.

The CTC is nonrefundable, so does not benefit you if your taxable income is already down to zero (which it may be now).