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Has the $10,000 unemployment tax free passed?
tax not applied to first $10,000 of unemployment
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April 9, 2021
11:42 AM
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Get your taxes done using TurboTax
The software is updated for the unemployment tax law change. Just enter your 1099G and the software will take care of the calculations for that.
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.
**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.**
April 9, 2021
11:45 AM
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Get your taxes done using TurboTax
Yes and Turbo Tax has been updated. It is automatic. Unless your AGI is over $150,000 then you don't qualify. Just enter the 1099G for the total unemployment you got.
The exclusion will be on Schedule 1 Line 8 as a negative number. Your unemployment compensation will be on Line 7 of Schedule 1. The result flows to Form 1040 Line 8.
If the exclusion is not showing up then delete the 1099G and re enter it.
April 9, 2021
11:45 AM