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lprimm86
New Member

I am reporting unemployment income. Turbo tax is reporting it in line 7 of schedule 1 and then deducting it in line 8 of schedule 1. Can I update schedule 1?

How do you report unemployment income in turbo tax?
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2 Replies

I am reporting unemployment income. Turbo tax is reporting it in line 7 of schedule 1 and then deducting it in line 8 of schedule 1. Can I update schedule 1?

that's exactly the way it's supposed to be reported per the IRS.  report gross (line 7) then take a subtraction for the exclusion (line 8).  TurboTax computes the exclusion automatically so you need do nothing. 

I am reporting unemployment income. Turbo tax is reporting it in line 7 of schedule 1 and then deducting it in line 8 of schedule 1. Can I update schedule 1?

Due to the American Rescue Plan Act of 2021 the unemployment compensation exclusion is up to $10,200.  The exclusion is on Schedule 1 Line 8.

 

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