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!
You'll need to sign in or create an account to connect with an expert.
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.
I'd Like to know the answer to this question too.
I can see your question but not the answer. I live in NC
@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.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
olegyk
Level 1
mjmoor60
New Member
visage-hawser0u-
New Member
klee1406
New Member
clarineted
Level 2
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.