unemployment
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marlou68-
New Member

unemployment

How do we claim the deduction of $10200 from the unemployment income? I read that the first $10200 of the unemployment we received is not taxble. Turbo Tax has automatically computed it?

2 Replies
Bsch4477
Level 15

unemployment

If you have the latest update TurboTax will compute that automatically. 

xmasbaby0
Level 15

unemployment

The software has been updated for the new tax law for unemployment.   If you are working on your 2020 return now, enter your 1099G and the software will calculate how much -- if any-- of your unemployment is taxable.

 

 

Enter your 1099G in Federal>Wages & Income>Unemployment

 

 

https://ttlc.intuit.com/community/internal-revenue-service/help/how-is-my-state-taxing-unemployment-...

 

 

If you filed your tax return BEFORE the law changed or before the software was updated, then you will want to read the following:

 

Here is why you do NOT amend your return for unemployment:

Please read this very recent news from the IRS:

 

https://www.irs.gov/newsroom/irs-to-recalculate-taxes-on-unemployment-benefits-refunds-to-start-in-m...

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
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