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New Member
posted May 21, 2021 10:01:35 AM

I paid taxes on unemployment and am wondering why transcripts do not show a credit for it...Looks like I am not receiving the 10,200 deduction for some reason? ?

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1 Replies
Level 15
May 21, 2021 10:06:25 AM

The transcripts for the filed 2020 tax return will only show the taxes paid, not the exclusion amount if you filed before the exclusion was available on a tax return.

 

Go to this IRS website for unemployment compensation exclusion refund information - https://www.irs.gov/newsroom/irs-begins-correcting-tax-returns-for-unemployment-compensation-income-exclusion-periodic-payments-to-be-made-may-through-summer