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How can I find out if I will be getting the unemployment tax credit, because it would really help.

I got my 1099 in the mail after I had already filed through Turbo Tax, and it's a large amount that I really need.
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2 Replies

How can I find out if I will be getting the unemployment tax credit, because it would really help.

Did you include the unemployment on your tax return?  If not you need to file an amended return to report it.  The first 10,200 won't be taxable.  And you may get back any withholding taken out from it.

 

If you need to amend, You should not amend until the first return has fully processed and you get the first refund or your tax due payment has cleared.  

 

How to amend a 2020 return

https://ttlc.intuit.com/community/amending/help/how-do-i-amend-my-return/00/27439

 

Your unemployment compensation will be on Schedule 1 line 7.  The exclusion will be on Schedule 1 Line 8 as a negative number. The result flows to Form 1040 Line 8.

rjs
Level 15
Level 15

How can I find out if I will be getting the unemployment tax credit, because it would really help.

I assume you are talking about Form 1099-G for unemployment. Do you mean that you did not report your unemployment on the tax return that you filed?


Please note that the unemployment provision of the American Rescue Plan Act is an exclusion from income, not a tax credit. Also note that Form 1099-G does not show the amount that you will get for the unemployment exclusion.


We can give you a more precise answer if you answer all of the following questions.

 

  1. What are the exact amounts in boxes 1 and 4 of the Form 1099-G?
  2. When did you file your tax return?
  3. What are the exact amounts on Form 1040 lines 8, 11, 16, and 25b of the tax return that you filed?
  4. Did the tax return that you filed include Schedule 1? If so, what are the exact amounts on Schedule 1 lines 7 and 8?

 

 

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