RTAA payments must be reported to the Internal Revenue Service (IRS) as taxable income.
To enter these payments in TurboTax Deluxe Online:
- Click on Federal in the left column
- On Wages & Income scroll down to Other Common Income and select Show more
- Start Other 1099-G income
- Say YES to Did you receive any of these payments reported on Form 1099-G and fill out the rest of the screens
RTAA is a cash benefit that pays 50% of the gap between what you made in your former job and what you make in your new job. This subsidy is paid over two years, or up to $10,000, whichever comes first.
For more info see: Income for Older Workers: Reemployment Trade Adjustment Assistance (RTAA)