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I live in Alaska, would anyone here know if I qualify for the unemployment tax break? I did my tax before the unemployment tax break was placed.

I should also add I have dependants
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I live in Alaska, would anyone here know if I qualify for the unemployment tax break? I did my tax before the unemployment tax break was placed.

The state you live in is not a factor in whether you can get the additional federal refund if you filed early before the federal tax law changed for unemployment.   Alaska has no state income tax so there is not a state return to worry about.

 

The IRS began to send out the additional refund checks for tax withheld from unemployment in May.   If you are eligible for the extra refund for federal tax that was withheld from your unemployment the IRS will be sending you an additional refund sometime during the next several months.  TurboTax cannot track or predict when it will be sent.  The IRS has not provided a way for you to track it, so all you can do is wait for the refund to arrive.

 

https://ttlc.intuit.com/community/tax-topics/help/how-do-i-get-the-new-unemployment-benefits-if-i-ve...

 

 

Please read this very recent news from the IRS:

 

https://www.irs.gov/newsroom/irs-to-recalculate-taxes-on-unemployment-benefits-refunds-to-start-in-m...

 

https://www.irs.gov/newsroom/irs-begins-correcting-tax-returns-for-unemployment-compensation-income-...

 

 

https://ttlc.intuit.com/community/tax-credits-and-deductions/help/am-i-eligible-for-a-new-credit-or-...

 

 

https://www.irs.gov/newsroom/2020-unemployment-compensation-exclusion-faqs

 

 

 

https://www.irs.gov/faqs/irs-procedures/forms-publications/new-exclusion-of-up-to-10200-of-unemploym...

 

https://www.kiplinger.com/taxes/602542/irs-sending-more-unemployment-tax-refund-checks-in-june?rid=E...

 

**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.**

I live in Alaska, would anyone here know if I qualify for the unemployment tax break? I did my tax before the unemployment tax break was placed.

The state you live in doesn't matter. It's for federal.

 

If you have unemployment you can exclude up to 10,200 for each person if your income is under $150,000.  Your unemployment compensation will be on Schedule 1 line 7.  The exclusion will be on Schedule 1 Line 8 as a negative number. The result flows to Form 1040 Line 8.

 

If you already filed and didn't get the 10,200 unemployment exclusion you do not need to amend.  The IRS will be adjusting it for you.  See,

https://www.irs.gov/newsroom/irs-to-recalculate-taxes-on-unemployment-benefits-refunds-to-start-in-m...

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