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BarbDenise
Returning Member

Unemployement tax credit.

From Washington state, I completed my return (did not file yet) in February yet my taxes due did not change with the unemployment tax credit.  Income is less than the 150k.  I updated the software and deleted and re-entered the 1099-G. No change.

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3 Replies

Unemployement tax credit.

Washington State does not have a tax return.  Are you asking about Federal?  What is your AGI?

 

If you have unemployment you can exclude up to 10,200 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.

 

If your program says it's up to date or you can't update it then do the Manual Update.  

https://ttlc.intuit.com/community/updating/help/manually-update-turbotax-for-windows-software-basic-...

Unemployement tax credit.

It's hard to say without more specifics. The Relief package provided tax free unemployment benefits up to a certain amount.  For clarification, it is an exclusion from income not a credit.  It is possible that the adjustment to your income may have impacted other deductions and/or credits which negated the benefit of the exclusion.  The link below is to an informative article on the Unemployment Income relief.  Hope this helps.

 

https://blog.turbotax.intuit.com/tax-news/am-i-eligible-for-the-new-unemployment-income-relief-49427...

DaveF1006
Expert Alumni

Unemployement tax credit.

It depends. What is your filing status for the year, Single, Married Filing jointly, Head of Household, Married Filing Separately? How much income did you declare for the year including the unemployment?

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