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Datguyscott
New Member

File from last year

I went on unemployment Sept of last year. But I didn't receive any money until Jan of this year. I didn't put any of that income on last year's taxes as I didn't receive it till Jan as back pay because they had issues. Is that ok and will I be exempt for that first 10,000 even though I didn't receive it till this year but it was for last year?

2 Replies
dchitiyo
Employee Tax Expert

File from last year

Good afternoon,

Based on he tax law as of today, you can exclude up to $10,200 of unemployment benefits received in 2020 - this was the provision of the American Rescue Plan.  As of today, the exclusion does not apply to benefits received in 2021.

 

In your case, you were correct not to report the amounts received in January, 2021 on your 2020 tax return. Unfortunately, as the law is currently written, these benefits will be taxable in 2021.

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ArthurJ
Employee Tax Expert

File from last year

Hi

It's a pleasure to answer your question regarding the unemployment income received in 2021.  You did not receive any 1099G in 2020 since the benefits were not paid until 2021.  All the benefits received in 2021 will be taxable in 2021 and as of now there is no exclusion for unemployment benefits received in 2021.

If there is any exclusion it would be issued by the end of the year.

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