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jpm1530
New Member

unemployment payments taxability

Will the first $10,200 of combined federal and state unemployment payments be non-taxable? Fla withheld 10% while I was receiving payments for UI. I just want to know that I am fairly well covered in with-holding for the remainder of UI received. Thank You. 

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1 Reply
AR_CPA2
Employee Tax & Finance Expert

unemployment payments taxability

Are you talking about Tax Year 2021?

The $10,200 exclusion was only applicable to Tax Year 2020.  We don't know yet if they will come up with something similar for the current tax year 2021.  State of Florida does not have any State Income Tax.  You probably mean to say that Florida is withholding 10% for your Federal Taxes.  Not enough info here to know whether you are fairly well covered.  Depends what your total income is for the whole year? Depends if you're talking about 2020 or 2021?  Depends what your withholding is on your other items of income?  etc. etc. 

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