- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
After you file
The Unemployment Compensation Exclusion (UCE) is forgiveness of the Federal tax on the first $10,200.00 of Unemployment income received. So if your unemployment compensation was $13,200.00, the tax on the first $10,200.00 is forgiven. You would only pay tax on the remaining $3,200.00. But, this only applies if your household income is under $150,000.00 .
This would be reflected in Schedule 1, Part 1, Line 8 The UCE figure will be a negative amount UP TO $10,200.00. That's the ceiling.
Hope this helps,
alec
March 31, 2021
6:49 PM