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My wife received 2575.00 in unemployment benefits that were not taxed. The cares act states that any amount under 10,500 is not taxable. Should I claimed this money?

 
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2 Replies

My wife received 2575.00 in unemployment benefits that were not taxed. The cares act states that any amount under 10,500 is not taxable. Should I claimed this money?

Yes you still need to enter it.   Some states tax unemployment and the information flows to your state reurn from your federal return.  In order to file a complete and true tax return you enter ALL income.  The software will calculate which income is taxable.

 

Enter your 1099G in Federal>Wages & Income>Unemployment

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
Irene2805
Expert Alumni

My wife received 2575.00 in unemployment benefits that were not taxed. The cares act states that any amount under 10,500 is not taxable. Should I claimed this money?

Whatever unemployment benefits your wife received (up to $10,200) are not taxable. 

 

If you have not filed your return yet, just enter the unemployment benefits reported to you on Form 1099-G and TurboTax will automatically subtract the amount.

If you have already filed your 2020 Form 1040 return, you should not file an amended return at this time. The IRS will issue additional guidance as soon as possible.  [IRS - New Exclusion of up to $10,200 of Unemployment Compensation.

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