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clopezz12
New Member

If i received less than 1k in unemployement, do i need to file them now that there is a $10,200 of unemployment compensation exclusion?

 
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3 Replies

If i received less than 1k in unemployement, do i need to file them now that there is a $10,200 of unemployment compensation exclusion?

That exclusion of the first $10,200 of federal tax on unemployment was only for 2020----not for 2021.   Your unemployment is taxable income for 2021, and it must be entered on your tax return.

 

 

UNEMPLOYMENT COMPENSATION

Unemployment compensation is taxable on your federal return. 

You will have to enter a 1099G that is issued by your state.

 

Some states will mail out the 1099G.  Or you might need to go to your state’s unemployment website and use the password, etc. that you have been using to certify for weekly benefits to get your 1099G from the state’s site.

 

Enter your 1099G in Federal>Wages & Income>Unemployment

 

Go through the screens very carefully, making sure  to enter any federal/state tax you had withheld from the unemployment.

https://ttlc.intuit.com/community/entering-importing/help/where-do-i-report-a-1099-g-for-unemploymen...

**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.**
ee-ea
Level 15

If i received less than 1k in unemployement, do i need to file them now that there is a $10,200 of unemployment compensation exclusion?

The American Rescue Plan enacted on March 11, 2021, excludes from income up to $10,200 of unemployment compensation paid to you in 2020.  If the $1K n UE was pad in 2021 it is taxed. 

AmyC
Expert Alumni

If i received less than 1k in unemployement, do i need to file them now that there is a $10,200 of unemployment compensation exclusion?

There is no such exclusion for 2021 You must file all unemployment wages.

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