I was on furlough for many months, how will that e...
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myu13_33
New Member

I was on furlough for many months, how will that effect my 2020 taxes?

 
4 Replies
Bsch4477
Level 15

I was on furlough for many months, how will that effect my 2020 taxes?

Since you had less income you should owe less tax.  

Bsch4477
Level 15

I was on furlough for many months, how will that effect my 2020 taxes?

Since you had less income you should owe less tax.  If you had to take a premature IRA withdrawal the penalty would be waived. 

xmasbaby0
Level 15

I was on furlough for many months, how will that effect my 2020 taxes?

Were you receiving unemployment benefits?

 

Unemployment compensation is taxable on your federal return.  Enter your 1099G for unemployment in Federal>Wages and Income>Unemployment

You might need to get your 1099G from the state’s unemployment site.

 

STATES THAT TAX UNEMPLOYMENT BENEFITS

 

AZ, AR, CO, CT, DE, DC, GA, HI, ID, IL, IN, IA, KS, KY, LA, MA, ME, MD, MI, MN, MS, MO, NB, NM, NY,NC, ND, OH, OK, OR, RI, SC, UT, VT, WV, WI

 

Unemployment compensation is taxable on your federal return.  Enter your 1099G for unemployment in Federal>Wages and Income>Unemployment.  You might need to get your 1099G from the state’s unemployment site.

 

STATES THAT DO NOT  TAX UNEMPLOYMENT BENEFI

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
VolvoGirl
Level 15

I was on furlough for many months, how will that effect my 2020 taxes?

If you had no income or low income you might not need to file a return except to get back any withholding taken out.

 

Do you need to file a return?

https://ttlc.intuit.com/community/filing-and-paying-taxes/help/do-i-need-to-file-a-federal-return-th...

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