Do I pay income tax for unemployment I received in 2020 in the amount of $10,680.00?

Forum|Forum|4 years ago
February 5, 2022
2 replies
2 views

I also received W2’s from employment and Social Security

TurboTax Deluxe Online

DoninGA

Level 15

Yes, unemployment compensation is taxable income on a federal tax return.

DoninGA

Level 15

Correction - You posted - received in 2020 in the amount of $10,680.00

Are you completing a 2020 tax return or a 2021 tax return?

The TurboTax online editions are only for tax year 2021. If you received unemployment compensation in 2021 then that is taxable income.

If you are completing a 2020 tax return then the unemployment compensation is excluded from income for amounts $10,200 or less if your 2020 Modified AGI is less than $150,000.

To complete and file a 2020 tax return using TurboTax you would need to purchase, download and install on a personal computer one of the 2020 desktop editions from this website - https://turbotax.intuit.com/personal-taxes/past-years-products/

A 2020 tax return can only be printed and mailed, it cannot be e-filed.