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bnashiko
New Member

Unemployment effect on my taxes.

I got a job three (3) weeks ago but I was receiving Unemployement checks prior to my getting a job. How this affect me when I file my 2020 taxes for Federal and State?

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2 Replies
newenglandpro
Employee Tax Expert

Unemployment effect on my taxes.

Hi there!
Turbotax has a cool calculator that calculates how much your refund will probably be its at this link below:
https://turbotax.intuit.com/tax-tools/calculators/taxcaster/

Its called Taxcaster. Quickly estimate your 2020 tax refund with TaxCaster. This free tax calculator helps you see how much you may get back, or what you may owe, before you file your tax return.

 

Try it out! if you have issues using it or need additional info please reach out again!

 

Unemployment effect on my taxes.

Three weeks ago?   Income you have received since January 1, 2021 does not affect your 2020 income tax return.   Any income you received in 2021 goes on your 2021 return which you will prepare and file in early 2022.   If you have not yet prepared your 2020 tax return, you only need to enter the 1099G that was issued by your state for 2020 on your 2020 tax return.   2021 income has no effect on your 2020 tax return.

 

You will have to enter a 1099G that is issued by your state.

 

Some states will mail out the 1099G.  Or you might need to go to your state’s unemployment website and use the password, etc. that you have been using to certify for weekly benefits to get your 1099G from the state’s site.

Enter your 1099G in Federal>Wages & Income>Unemployment

 

Go through the screens very carefully, making sure  to enter any federal/state tax you had withheld from the unemployment.

https://ttlc.intuit.com/community/entering-importing/help/where-do-i-report-a-1099-g-for-unemploymen...

 

https://ttlc.intuit.com/community/entering-importing/help/how-do-i-report-unemployment-if-i-didn-t-g...

**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.**
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