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Returning Member
posted Jul 27, 2022 9:57:41 AM

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? 

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1 Replies
Employee Tax Expert
Jul 27, 2022 10:00:39 AM

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!