I'm unemployed this year 2021. My last unemployment paycheck was las June of 2021. I have received approximately $12,000 from unemployment. How do I file the amount? I mean, have no information other than the mount that went in to my bank. Will I receive a form with my total income from unemployment? How do I file it?
You will receive a Form 1099-G from your state for the unemployment compensation you received in 2021. The Form 1099-G should be mailed to you in January or February of 2022. Although some states require you to go to their state unemployment department website for the 1099-G.
Unemployment compensation is taxable income that is required to be entered on your tax return.
@Buw1sK0 wrote:
Great information!
I also received a tax refund of roughly $2,200. Is that taxable this year?
Federal tax refunds are never reported as income on a federal tax return.
You will receive a Form 1099-G from your state for the unemployment compensation you received in 2021. The Form 1099-G should be mailed to you in January or February of 2022. Although some states require you to go to their state unemployment department website for the 1099-G.
Unemployment compensation is taxable income that is required to be entered on your tax return.
Great information!
I also received a tax refund of roughly $2,200. Is that taxable this year?
@Buw1sK0 wrote:
Great information!
I also received a tax refund of roughly $2,200. Is that taxable this year?
Federal tax refunds are never reported as income on a federal tax return.
Hello @Buw1sK0! You can expect to receive a Form 1099-G "Certain Government Payments". You will be able to file it just as you would any other document. In TurboTax, use the spy glass/search button on the top right of the page to search the form number and it will provide a 'Jump To' link for you. Click on that link and it'll take to the right place to input your Form 1099-G.
Here is a link if you'd like to have more in-depth info on this topic: https://turbotax.intuit.com/tax-tips/unemployment/guide-to-unemployment-and-taxes/L1uajNdHD
@Chanastyle wrote:
How do I file my taxes for 2021
The 2021 tax year will not end until after 12/31/2021 so you cannot complete or file a 2021 tax return until next year in 2022.
I only have social security. Nothing else @ links to members content
You do not have to file an income tax return if your only income was Social Security benefits @Stella51.
If did not received the third stimulus of $1,400, you can file to claim it as a Recovery Rebate Credit that will be added to your refund.
The IRS says: "You must file a return to claim the credit, even if you don't usually file a tax return."
For more info see Recovery Rebate Credit