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kay6
New Member

How do I enter the unemployment tax credit of $10200.00

 
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6 Replies

How do I enter the unemployment tax credit of $10200.00

It's a Federal deduction, not a tax credit.  The program does this automatically after you enter your 1099-G.

Also see:

The states still taxing unemployment benefits, despite federal relief (usatoday.com)

How is my state taxing unemployment income? (intuit.com)

kay6
New Member

How do I enter the unemployment tax credit of $10200.00

OK but I’m being told that the IRS has furnished instructions for TurboTax to calculate that $10,200 deduction or whatever you wanna call it I have completed my taxes through TurboTax have not yet filed because it is not amending anything showing the reduction in my 1099G through the unemployment agency of the $10,200

kay6
New Member

How do I enter the unemployment tax credit of $10200.00

OK so I entered my 1099G from the state unemployment of New Mexico and it being TurboTax software did nothing it did not apply the $10,200 credit at all did nothing

How do I enter the unemployment tax credit of $10200.00

Is your income high?  You income has to be under $150,000 to qualify for the unemployment $10,200 exclusion.

 

Delete the 1099G and re enter it.  The exclusion will be on Schedule 1 Line 8 as a negative number. Your unemployment compensation will be on Line 7 of Schedule 1. The result flows to Form 1040 Line 8.

kay6
New Member

How do I enter the unemployment tax credit of $10200.00

No my income is well below. I did delete and re enter the 1099G  and there is no change at all

kay6
New Member

How do I enter the unemployment tax credit of $10200.00

Should it show a change in tax refund before I file?  I deleted the 1099g and re entered it and went all the way through the process of the fed and state returns with no changes to any amounts all the way to filing. I did not file because the amounts did not change

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