ErnieS0
Expert Alumni

Get your taxes done using TurboTax

If you received and repaid your unemployment all in 2021 @DanP0428, then enter the amount repaid in the box you mention. TurboTax will subtract this amount from the taxable benefits on your 2021 return.

 

If you received and paid back unemployment in different years (for example received unemployment in 2020 and repaid in 2021) then you may be able to deduct the amount repaid from your income for the year in which you repaid it.

 

Or, if the amount you repaid is more than $3,000, you may be able to take a credit against your tax for the year in which you repaid it. In most cases, you can claim a deduction or credit only if the repayment qualifies as an expense or loss incurred in your trade or business or in a for-profit transaction.

 

See Repayments

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