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psinca
Returning Member

Schedule H calculation error for 2021 taxes for FUTA?

Preparing Schedule H for 2021 Fed tax filing. Calculation for FUTA [Federal Unemployment Tax Act] in TurboTax seems incorrect at 0.6% when the tax rate for 2021 is 6%.  This seems to under-report FUTA tax owed by a factor of 10. Anyone else seeing this error? I've updated the software as of today. 

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Schedule H calculation error for 2021 taxes for FUTA?

If your state requires that you pay unemployment, you get credit for that unemployment with the IRS.  The default rate is then the .6%

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2 Replies

Schedule H calculation error for 2021 taxes for FUTA?

If your state requires that you pay unemployment, you get credit for that unemployment with the IRS.  The default rate is then the .6%

psinca
Returning Member

Schedule H calculation error for 2021 taxes for FUTA?

Aha! You are correct about that as California is one of those states so the 0.6% net FUTA tax rate is correct. Thank you!

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