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Steve Hart
Returning Member

Estimating my 2022 AGI with income from Unemployment and Social Security

I've been collecting unemployment benefits in MA since January and have 2 weeks remaining.  My income from UI will be approximately 25k.  I've had the maximum allowed, 10%, withheld for federal taxes.  Will this full amount be included in my AGI or is there some exception for Unemployment payments? 

1 Reply
SoCalGal22
Employee Tax Expert

Estimating my 2022 AGI with income from Unemployment and Social Security

At this time, Congress has not passed anything for 2022 making part or all of your unemployment non-taxable as they did in 2021.  It is always a possibility.  Best advise is to plan on it all being taxed and watch for updates here in the community as we get closer to filing 2022 returns. 

 

I hope that answers your question about gift tax and reporting. Please feel free to give TurboTax a call anytime if you have additional questions or need assistance.

 

Have a great day!

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