Unemployment repayment

[seanbernhardt40]

In 2024 I repaid $3,125 to unemployment overpayment from 2023, how do I claim this on my 2024 taxes

[MinhT1]

This is a claim of right repayment. If the repayment exceeds $3,000, you can only report it in the year you actually repaid the claim.

There are a couple of ways to get a tax break by reporting the repayment in the year of repayment:

• You'll claim it as a Miscellaneous itemized deduction in Schedule A. This is the preferred option if you itemize your deductions

• Use TurboTax Desktop to figure out the amount of tax you overpaid and take a refundable tax credit

• Test both methods and choose the one that results in the lowest tax.

Please read this TurboTax Help topic for more information.