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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?
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2 Replies
ErnieS0
Expert Alumni

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?

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.

 

See Repayments.

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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?

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