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You wouldn't need to enter it to report any income this year, but if you repaid benefits this year that you had included in a prior year, then you may be entitled to a tax deduction for that $244.
However, since the amount is less than $3,000, any deduction would be subject to a 2% of AGI limit (means that only the amount greater than 2% of your adjusted gross income can be deducted on Schedule A) and you would also need to be itemizing your deductions this year to have any benefit. Thus, its highly unlikely that you would see any tax benefit from including it on your return unless you have significant other miscellaneous deductions.
But, you can enter it in the same section that you would normally enter unemployment compensation in TurboTax under Income and the program will do the calculation for you to see if you can deduct this amount later when you get to Deductions and Credits. After you say no to entering any unemployment compensation, one of the questions in the unemployment section will ask if you have any repayments to report.
You wouldn't need to enter it to report any income this year, but if you repaid benefits this year that you had included in a prior year, then you may be entitled to a tax deduction for that $244.
However, since the amount is less than $3,000, any deduction would be subject to a 2% of AGI limit (means that only the amount greater than 2% of your adjusted gross income can be deducted on Schedule A) and you would also need to be itemizing your deductions this year to have any benefit. Thus, its highly unlikely that you would see any tax benefit from including it on your return unless you have significant other miscellaneous deductions.
But, you can enter it in the same section that you would normally enter unemployment compensation in TurboTax under Income and the program will do the calculation for you to see if you can deduct this amount later when you get to Deductions and Credits. After you say no to entering any unemployment compensation, one of the questions in the unemployment section will ask if you have any repayments to report.
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