Unemployed for almost an year

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I have been unemployed for almost an year and collecting unemployment which means that I would be getting 1099-G so how does my taxes would impact if filing jointly?

Thanks

Shakeel

Ask the Experts - Extension - Sept 2023

emina

Level 5

Hello, thanks for joining u today!

Unemployment compensation is taxable income. If you receive unemployment benefits, you generally must include the payments in your income when you file your federal income tax return.

How this may impact your tax return when filing jointly depends. Did you have any federal tax withheld on your 1099-g? What is your spouse's income? Is your spouse's withholding enough to cover the tax due?

You may always try both filing statuses, separately, or filing jointly to compare and see what works better for you and your spouse.

Reference link: https://www.irs.gov/individuals/employees/unemployment-compensation