You'll need to sign in or create an account to connect with an expert.
Yes, there is no exception to be eligible for the unemployment compensation exclusion based on filing status.
Go to this IRS website for information - https://www.irs.gov/newsroom/2020-unemployment-compensation-exclusion-faqs-topic-a-eligibility
You're eligible to exclude the unemployment compensation if it was received in 2020 and your modified adjusted gross income (AGI) is less than $150,000. The modified AGI for purposes of qualifying for this exclusion is your adjusted gross income for 2020 minus the total unemployment compensation you received. This threshold stays the same for all filing statuses, regardless of whether you're married and file a joint tax return (it doesn't double to $300,000).
Yes, there is no exception to be eligible for the unemployment compensation exclusion based on filing status.
Go to this IRS website for information - https://www.irs.gov/newsroom/2020-unemployment-compensation-exclusion-faqs-topic-a-eligibility
You're eligible to exclude the unemployment compensation if it was received in 2020 and your modified adjusted gross income (AGI) is less than $150,000. The modified AGI for purposes of qualifying for this exclusion is your adjusted gross income for 2020 minus the total unemployment compensation you received. This threshold stays the same for all filing statuses, regardless of whether you're married and file a joint tax return (it doesn't double to $300,000).
Thanks, so does that mean hoh filers is under phase 1 or phase 2?
@shocker90 wrote:
Thanks, so does that mean hoh filers is under phase 1 or phase 2?
Sorry, do not have information on that. The IRS has only posted that phase 1 is for single filers with simple tax returns. Phase 2 is for all others.
Thanks for the information.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
inspiration
Level 2
PhatFrancis
Returning Member
OxanaD
Returning Member
DaedalusReturned
New Member
kgaro113
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.