Has anyone else figure out with filing jointly the entire federal tax break is about 20400 on unemployment?
04475
4 Replies
DoninGA
Level 15
Mar 21, 2021 4:12:20 PM
If you are filing as Married Filing Jointly, your 2020 AGI is under $150,00 and you both received unemployment compensation then the exclusion amount could be $20,400 if the UC received for each of you was at least $10,200 or more
rebazambrano
Level 3
May 7, 2021 2:41:00 PM
What if the UC we both received came from different states? NJ for him, NY for me. Would it still be 20400?
Critter-3
Level 15
May 7, 2021 2:42:25 PM
The state is immaterial for the federal return ... states may differ.
rebazambrano
Level 3
May 7, 2021 2:49:15 PM
So, -$20,400 is because both had UC (different states). What should I write for the NY source portion? -$10,200? I'm so confused with this. Please advice.