topic Do I have to file taxes on my weekly PUA money in Get your taxes done using TurboTax

Do I have to file taxes on my weekly PUA money

btelrod1 — Sat, 06 Mar 2021 00:40:24 GMT

Re: Do I have to file taxes on my weekly PUA money

xmasbaby0 — Sat, 06 Mar 2021 00:44:23 GMT

Your unemployment 1099G has to be entered. It is taxable income.

https://ttlc.intuit.com/community/entering-importing/help/how-do-i-report-unemployment-if-i-didn-t-get-a-1099-g/00/26866

UNEMPLOYMENT COMPENSATION

Unemployment compensation is taxable on your federal return.

You will have to enter a 1099G that is issued by your state.

Some states will mail out the 1099G. Or you might need to go to your state’s unemployment website and use the password, etc. that you have been using to certify for weekly benefits to get your 1099G from the state’s site.

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

Go through the screens very carefully, making sure to enter any federal/state tax you had withheld from the unemployment.

https://ttlc.intuit.com/community/entering-importing/help/where-do-i-report-a-1099-g-for-unemployment-or-paid-family-leave/00/26530

STATES THAT TAX UNEMPLOYMENT BENEFITS

AZ, AR, CO, CT,, 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

STATES THAT DO NOT TAX UNEMPLOYMENT BENEFITS on the state return

AK, CA, DE, FL, MT, NH, NJ, NV ,PA, SD, TN, TX, VA, WA, WY

https://ttlc.intuit.com/community/personal-income-taxes/help/how-does-receiving-unemployment-affect-my-taxes/00/1756152

https://ttlc.intuit.com/community/form-1099-g/help/what-if-the-boxes-on-my-1099-g-don-t-match-the-boxes-in-turbotax/00/195417

Re: Do I have to file taxes on my weekly PUA money

samanthaw618 — Thu, 11 Mar 2021 05:06:03 GMT

This is wrong. Maryland temporarily repealed state income tax on unemployment. Here is the release from Gov. Hogan's office.

https://governor.maryland.gov/reliefact/

Re: Do I have to file taxes on my weekly PUA money

DMarkM1 — Thu, 11 Mar 2021 16:08:21 GMT

You are correct, MD has suspended taxing unemployment. However the unemployment is still federally taxable and must be entered as @xmasbaby mentions.

Update: With the new stimulus law nearing signature there is language therein that has a tax break on the first $10,200 of unemployment benefits received in 2020. Once the bill becomes law the IRS will issue implementation guidance on this and other provisions of this new tax law.

Following that IRS guidance, tax preparation software will be updated with the changes and once the software changes are approved by the IRS, they will be pushed to customers.

There is no projection on when all these steps will be completed yet.