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Yes, the $600 additional unemployment is taxable, the same as regular unemployment benefits. On your tax return for 2020 you will report as income the full amount of unemployment that you received, and you will get credit for all the tax that was withheld.
Unemployment compensation is taxable on your federal return. Enter your 1099G for unemployment in Federal>Wages and Income>Unemployment
You might need to get your 1099G from the state’s unemployment site.
STATES THAT TAX UNEMPLOYMENT BENEFITS
AZ, AR, CO, CT, DE, DC, GA, HI, ID, IL, IN, IA, KS, KY, LA, MA, ME, MD, MI, MN, MS, MO, NB, NM, NY,NC, ND, OH, OK, OR, RI, SC, UT, VT, WV, WI
Unemployment compensation is taxable on your federal return. Enter your 1099G for unemployment in Federal>Wages and Income>Unemployment. You might need to get your 1099G from the state’s unemployment site.
STATES THAT DO NOT TAX UNEMPLOYMENT BENEFITS on the state return
AK, CA, FL, MT, NH, NJ, NV ,PA, SD, TN, TX, VA, WA, WY
All the income is taxable.
On your tax return, you will list all your income for the year (including jobs, unemployment compensation, cashing out investments, and side gigs), and all your tax payments (including withholding from your jobs and your unemployment checks). Your total taxes will be calculated, and if your taxes paid are less than your taxes owed, you will owe an additional payment, and if your taxed paid are more than your taxes owed, you will get a refund.
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