Re: Will unemployment benefits bring down your refund amount

Will unemployment benefits bring down your refund amount

posted

Unemployment compensation is taxable income. And you MUST enter it. Go to Federal>Wages and Income>Unemployment

If you still need the 1099G you can get it from your state's unemployment website.

**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.**

Any withholding on these benefits may have only been at 10%, but your actual tax rate due might be higher. And any increase in taxable income can also lower coms deductions and credits.