1099-G doesnt come up with every box number, just a select few. With the unemploy compensation recent change for line 7, how do i enter this?

[Lilyapotomus]

https://www.irs.gov/faqs/irs-procedures/forms-publications/new-exclusion-of-up-to-10200-of-unemploym...   says there are changes about 1099g. It doesnt say if we have to fill out a new form or if this should be reported on the 1099G. HOWEVER not all the number boxes even show up in turbo tax for this form.

[ee-ea]

 1 Reply

Success! This post is now an accepted solution.

 DavidD66

Employee Tax Expert

‎March 15, 2021 3:42 PM

 

That's because it's no there yet.  If you haven't filed yet, you might want to wait.

The IRS is reviewing implementation plans for the newly enacted American Rescue Plan Act of 2021. Additional information about a new round of Economic Impact Payments, the expanded Child Tax Credit, including advance payments of the Child Tax Credit, and other tax provisions will be made available as soon as possible on IRS.gov. The IRS strongly urges taxpayers to not file amended returns related to the new legislative provisions or take other unnecessary steps at this time.

The IRS will provide taxpayers with additional guidance on those provisions that could affect their 2020 tax return, including the retroactive provision that makes the first $10,200 of 2020 unemployment benefits nontaxable. For those who haven't filed yet, the IRS will provide a worksheet for paper filers and work with software industry to update current tax software so that taxpayers can determine how to report their unemployment income on their 2020 tax return. For those who received unemployment benefits last year and have already filed their 2020 tax return, the IRS emphasizes they should not file an amended return at this time, until the IRS issues additional guidance.

If you’d like to be updated when the information on the new unemployment benefits becomes available, please click on the following link: 

How do I get the new unemployment benefits if I’ve already filed my taxes?

[DavidD66 · Accepted solution]

That's because it's no there yet.  If you haven't filed yet, you might want to wait.

The IRS is reviewing implementation plans for the newly enacted American Rescue Plan Act of 2021. Additional information about a new round of Economic Impact Payments, the expanded Child Tax Credit, including advance payments of the Child Tax Credit, and other tax provisions will be made available as soon as possible on IRS.gov. The IRS strongly urges taxpayers to not file amended returns related to the new legislative provisions or take other unnecessary steps at this time.

The IRS will provide taxpayers with additional guidance on those provisions that could affect their 2020 tax return, including the retroactive provision that makes the first $10,200 of 2020 unemployment benefits nontaxable. For those who haven't filed yet, the IRS will provide a worksheet for paper filers and work with software industry to update current tax software so that taxpayers can determine how to report their unemployment income on their 2020 tax return. For those who received unemployment benefits last year and have already filed their 2020 tax return, the IRS emphasizes they should not file an amended return at this time, until the IRS issues additional guidance.

If you’d like to be updated when the information on the new unemployment benefits becomes available, please click on the following link: 

How do I get the new unemployment benefits if I’ve already filed my taxes?

[DianeW777]

With this new law, if your household income is less than $150,000, the first $10,200 of unemployment will be tax-free, but any amount you receive above that will be taxed. We must wait on the IRS for the way they want this to be handled.  Please continue to use the links below to know the most up to date information. If you already filed your tax return do NOT amend at this time per IRS. 

• How do I claim the new unemployment benefits in TurboTax?
• How do I get the new unemployment benefits if I already filed?
• American Rescue Plan: What Does it Mean for You and a Third Stimulus Check
• IRS Statement-American Rescue Plan Act of 2021

The link you provided is the instructions provided to file a paper tax return for now. They are working with us for best scenario for all.

[Jeana-2020]

I printed a 1099-G from unemployment website which shows total compensation and federal tax withheld.  So entered this info on turbo page under "enter any withholdings" now its asking for state withholdings and to check Box 11 however the 1099-G I printed from unemployment website doesn't have any boxes. So if its not showing state tax withheld on their 1099-G (only Fed withhold) does this mean I didn't have any state taxes withheld?????

[SamS1]

Yes.  Most states will allow state withholding from your unemployment benefits in addition to Federal withholding.  This is an election you would have made at the time you started receiving your benefits.  Or possibly you live in a state with no state income tax.  If your 1099G did not indicate any state withholding, then enter zero.

The American Rescue Plan Act recently passed allows exclusion of $10,200 of income from unemployment for households with income less than $150,000.  We’re working quickly to get TurboTax updated, expect the federal portion of the unemployment exclusion to be released late 3/19. Because this act was passed so recently, we are still updating changes for each state, therefore the states won’t be updated with this federal release.  If you are able to wait, this will save you from having to amend your state tax return.  

[ee-ea]

STATES THAT DO NOT  TAX UNEMPLOYMENT BENEFITS on the state return

AK, CA, FL, MT, NH, NJ, NV ,PA, SD, TN, TX, VA, WA, WY