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abubakerlm6
New Member

If my husband received some unemployment benefits during Covid. With the American Rescue Plan, we will be exempted from paying taxes? Do I still add this to my filing?

 
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VolvoGirl
Level 15

If my husband received some unemployment benefits during Covid. With the American Rescue Plan, we will be exempted from paying taxes? Do I still add this to my filing?

Yes you have to enter it.  

If you have unemployment you can exclude up to 10,200 (for each spouse) if your income is under $150,000.  Your unemployment compensation will be on Schedule 1 line 7.  The exclusion will be on Schedule 1 Line 8 as a negative number. The result flows to Form 1040 Line 8.

 

For the Unemployment 10,200 exclusion......

Turbo Tax is updated for it.  You don't have to do anything special to get it.  It is automatic.  Just enter the full amount on your 1099G.

View solution in original post

3 Replies
VolvoGirl
Level 15

If my husband received some unemployment benefits during Covid. With the American Rescue Plan, we will be exempted from paying taxes? Do I still add this to my filing?

Yes you have to enter it.  

If you have unemployment you can exclude up to 10,200 (for each spouse) if your income is under $150,000.  Your unemployment compensation will be on Schedule 1 line 7.  The exclusion will be on Schedule 1 Line 8 as a negative number. The result flows to Form 1040 Line 8.

 

For the Unemployment 10,200 exclusion......

Turbo Tax is updated for it.  You don't have to do anything special to get it.  It is automatic.  Just enter the full amount on your 1099G.

View solution in original post

SweetieJean
Level 15

If my husband received some unemployment benefits during Covid. With the American Rescue Plan, we will be exempted from paying taxes? Do I still add this to my filing?

State treatment may be different.

abubakerlm6
New Member

If my husband received some unemployment benefits during Covid. With the American Rescue Plan, we will be exempted from paying taxes? Do I still add this to my filing?

Great! Thanks

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