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Deductions & credits
I've seen a few articles use that language. And earlier in this chain there is a link to a turbo tax page that says it as well:
Unemployment FAQs
How will unemployment benefits affect my taxes?
The IRS, and most states, consider unemployment payments as taxable income. This means that you have to pay tax on these payments and report them on your return. With this new law, if your household income is less than $150,000, the first $10,200 of unemployment will be tax free, but any amount you receive above that will be taxed.
Thanks for the note on the payment.
March 16, 2021
6:26 PM