topic I recieved unemployment how file my taxes in Get your taxes done using TurboTax

I recieved unemployment how file my taxes

sosaw1982 — Wed, 17 Mar 2021 22:17:56 GMT

i file a 1040 form would like to know if this form is the correct form to file taxes we
hen you are on unemployment

Re: I recieved unemployment how file my taxes

SweetieJean — Wed, 17 Mar 2021 22:34:53 GMT

Please wait until the IRS issues guidance for this. See:

IRS Statement - American Rescue Plan Act of 2021 | Internal Revenue Service

Re: I recieved unemployment how file my taxes

RayW7 — Wed, 17 Mar 2021 22:44:26 GMT

I agree with @SweetieJean and although I too suggest you wait you would use form 1040 to file taxes.

Traditionally, unemployment benefits are taxed 10% at the federal level, as well as in some states. You can get ahead of your potential tax bill by opting to have 10% of benefits withheld from your unemployment checks. That said, it's voluntary and often overlooked when people file for unemployment benefits.

-follow this link for more information-

Topic No. 418 Unemployment Compensation | Internal Revenue