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I entered my unemployment income into Turbo Tax but when I print the form 1040, it is not showing up on it. Any reason why?

 
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2 Replies
DanaB27
Expert Alumni

I entered my unemployment income into Turbo Tax but when I print the form 1040, it is not showing up on it. Any reason why?

Please check Schedule 1 line 7 for unemployment compensation. If you qualify for the exclusion then it will show up on line 8 as a negative number with UCE next to it.

 

 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.

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I entered my unemployment income into Turbo Tax but when I print the form 1040, it is not showing up on it. Any reason why?

The taxable amount--if any--of your unemployment will show up on line 8 of your Form 1040 --"other income from Schedule 1 line 9"

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

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