unemployment adjustment

Forum|Forum|5 years ago
March 24, 2021
3 replies
0 views

Hi;

I readi your information on where to list the adjustment of unemployment on line 8 other income but the form 1099G comes with different option please let me know what to select to get the adjustment of 10,200

ToddL99

Level 13

Please clarify - have you already filed your 2020 return? What type of TurboTax program are you using - online or desktop (CD/Download)?

ronne17zx

Level 2

Desk top and I am just starting to do my taxes now. I am using the basic plan ??

ronne17zx

Level 2

Does the turbo tax program let me know where I take the 10200 ded

ronne17zx

Level 2

as I do my taxes, do I get promted to take the additional 10200.00 ded somewhere

ColeenD3

Level 15

The program has been updated to automatically apply the adjustment for unemployment as long as you have entered it in the appropriate section as outlined below.

You will enter the unemployment information in the federal interview section.

Select Income & Expenses
Scroll down to All Income and select Unemployment
Select Unemployment and paid family leave
You will be able to enter your information from your Form 1099-G

The adjustment will be reflected on Schedule 1, Line 8G.

Anonymous

Hello, I just wanted to add my own experience for others who may be viewing this topic. I just updating my TurboTax Deluxe software for my Windows PC today (March 24, 2021). At this time, the adjustment for up to $10,200 in unemployment income was not automatically applied. Rather, upon the final stages of review before actually filing federal and state returns, I received a prompt that told me that I was, in fact, eligible for the adjustment, but that this functionality was not available at this time. I was then given the option to either move forward with filing or to save my return and wait to file later. I chose to wait because I would like this adjustment made before filing, and TurboTax said that they would inform me via e-mail when that functionality was available. So, I guess I just have to wait for now.

Cynthiad66

Level 14

Thank you for sharing. However, you can trying this exclusion tip:

IRS Unemployment Compensation Exclusion

The exclusion should be reported separately from your unemployment compensation. See the updated instructions and the Unemployment Compensation Exclusion Worksheet to figure your exclusion and the amount to enter on Schedule 1, line 8.

When figuring the following deductions or exclusions from income, if you are asked to enter an amount from Schedule 1, line 7 enter the total amount of unemployment compensation reported on line 7 (unreduced by any exclusion amount) and if you are asked to enter an amount from Schedule 1, line 8, enter the amount from line 3 of the Unemployment Compensation Exclusion Worksheet. See the specific form or instructions for more information. If you file Form 1040-NR, you aren’t eligible for all of these deductions. See the Instructions for Form 1040-NR for details.

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