How do I claim the stimulus deduction for unemployment wages
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Assuming that you are using the TurboTax online editions and your 2020 AGI is less than $150,000 -
Just enter your unemployment compensation as reported on the Form 1099-G that you received from your state. The TurboTax software will calculate the exclusion and enter the result on the Form 1040 Line 8.
Enter unemployment compensation in the Search box located in the upper right of the program screen. Click on Jump to unemployment compensation
I deleted the unemployment and re-entered it and Turbo tax still did not deduct the stimulus deduction for unemployment payments.
@tgroff wrote:
I deleted the unemployment and re-entered it and Turbo tax still did not deduct the stimulus deduction for unemployment payments.
Look at Schedule 1 on Line 7 for the unemployment compensation you entered. On Line 8 of the Schedule 1 should be exclusion amount entered as a negative number. The word UCE will be written in the space to the left of box 8. Is the exclusion amount entered?
Click on Tax Tools on the left side of the screen. Click on Tools. Click on View Tax Summary. Click on Preview my 1040 on the left side of the screen.
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