@jon-cpr1-gmail-c wrote:
Thank you. But I'm not seeing how or if the $10,200 is applied? I made $26,309 from Unemployment Insurance. So I'd only be responsible for 1,6109, correct? I'm in NY so I believe this exclusion applies to my Federal Tax, but not State. I've added all my wages and income for the year and deductions already. Currently, my Federal Tax Bill is $1629.00 and my State Tax due is $2180.00. When this is applied, will I owe $0 on Federal Tax Due and adjusted down on or possibly no change on State Tax Due? When I submit will I see how this applies? It is just not clear how I can see this reflected on the Turbo-Tax program even though it says it is factored in.
Please advise. Thank you.
There is nothing to "apply." If you are preparing a new return now (and not trying to amend an old return) the UEC exclusion is automatically calculated by Turbotax. It has already happened. What you see is what you get. Your 1099-G is not adjusted, because that reports the amount of income you actually received. Your income did not change, just the tax calculations for some of that income, and that's all handled internally by the program.
You can view the worksheets if you are using Turbotax installed on your own computer, but not using Turbotax Online. The UEC worksheet might be part of the PDF of "all forms and worksheets" that you can download once you have paid the fee for Turbotax online.
If you aren't convinced, you will have to print your returns before filing, you should see your NY income will be higher than your federal income.
