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Did you get any unemployment? If you have unemployment you can exclude up to 10,200 if your income is under $150,000. The exclusion will be on Schedule 1 Line 8 as a negative number. Your unemployment compensation will be on Line 7 of Schedule 1. The result flows to Form 1040 Line 8.
Did you already file? Turbo Tax automatically adds it.
How do i know how much i will receive in unemployment tax break
It will reduce your income. So the tax will be less. You have to fill out your return to see.plus you get credit for any withholding taken out.
Thank you
What if i already filed
If you already filed and didn't get the 10,200 unemployment exclusion you do not need to amend. The IRS will be adjusting it for you. See,
Thanks
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