Sign Up

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
cancel
Showing results for 
Search instead for 
Did you mean: 
SteveR4
New Member

$10,200 deduction just this year or is it also for next year? (2022, filing for 2021)

Is the $10,200 unemployment deduction just a "this year only" thing, or could it be applied for next tax year as well? I do understand laws can change, or if it is only this year, and it would have to be renewed IF it were to happen again. Thanks!

3 Replies
DoninGA
Level 15

$10,200 deduction just this year or is it also for next year? (2022, filing for 2021)

The changes to the tax code for unemployment compensation exclusion were only for tax year 2020.  Congress would have to pass legislation for this to also be available in tax year 2021.  But as of this date that has not happened.

Dolphin11
New Member

$10,200 deduction just this year or is it also for next year? (2022, filing for 2021)

I'd Like to know the answer to this question too.

I can see your question but not the answer. I live in NC

 

DoninGA
Level 15

$10,200 deduction just this year or is it also for next year? (2022, filing for 2021)


@Dolphin11 wrote:

I'd Like to know the answer to this question too.

I can see your question but not the answer. I live in NC

 


You should have been able to see the answer to the question directly above your own post.  

Here is the answer as written -

The changes to the tax code for unemployment compensation exclusion were only for tax year 2020.  Congress would have to pass legislation for this to also be available in tax year 2021.  But as of this date that has not happened.

Dynamic AdsDynamic Ads
Privacy Settings
v