I did not report 1099G from my EDD -- what should I do now?

[Littlehuman]

Hi,

I filed my tax return pretty early this year and I've received all my returns.

I received unemployment compensation last year and it was my first time dealing with EDD.

I totally forgot to report Form 1099G from EDD. 

I was told that I can get a refund for the tax I paid on my unemployment compensation.

Is it too late? What are my options?

[xmasbaby0]

If you filed a tax return without including the unemployment you received in 2020 you need to amend your tax return.   That unemployment was supposed to be entered.   It is true that the first $10,200 of your unemployment is not taxed on your federal return, but any amount over that first $10,200 is still taxable.  If your return has been fully processed, amend it to enter your 1099G.  The software is up to date and will automatically  calculate how much -- if any-- of your unemployment is taxable.

Select your tax year for amending instructions:

• 2020
• 2019
• 2018
• 2017

     What does it mean to "amend" a return?

·         Do I Need to Amend my Tax Return?

You will have to enter a 1099G that is issued by your state.

Some states will mail out the 1099G.  Or you might need to go to your state’s unemployment website and use the password, etc. that you have been using to certify for weekly benefits to get your 1099G from the state’s site.

Enter your 1099G in Federal>Wages & Income>Unemployment

Go through the screens very carefully, making sure  to enter any federal/state tax you had withheld from the unemployment.

https://ttlc.intuit.com/community/entering-importing/help/where-do-i-report-a-1099-g-for-unemploymen...

[rjs]

You can't get "a refund for the tax I paid on my unemployment compensation" because, by omitting the 1099-G from your tax return, you didn't pay any tax on your unemployment. (If tax was withheld from your unemployment, it was applied to the tax on your other income.)

You have to file an amended return to report the unemployment benefits. The first $10,200 of your unemployment will be tax-free, provided that your AGI, not including unemployment, is less than $150,000.

[Littlehuman]

Thank you!

[Littlehuman]

Thank you.

I received $24,000 UC in 2020 and paid $1260 tax. I just filed an amendment and it looks like I have to payback about $1200. Totally did not expect...but have to pay.