I am required to repay unemployment benefits received in 2020, but I was not notified until 2021 and did not pay anything until 2021. do I say no to the question?
Turbotax asks if I was required to repay any unemployment benefits received. Do I say no and then just save the repayment part until next year's taxes?
02369
2 Replies
ErnieS0
Expert Alumni
May 2, 2021 1:04:25 PM
Yes. Say No to the question. It refers to 2020.
If you repay more than $3,000 in 2021 you can claim either a deduction or tax credit on your 2021 income tax return.