Tax Exempt unemployment form 1099 G

Forum|Forum|5 years ago
March 13, 2021
3 replies
20 views

Any Idea if and when the updates coming on the 10,200 exemption from taxes on the unemployment

income

ProSeries Professional

This topic has been closed for replies.

Best answer by Dave Kropp

The exclusion should be reported separately from your unemployment compensation. See the updated instructions and the Unemployment Compensation Exclusion Worksheet to figure your exclusion and the amount to enter on Schedule 1, lines 7 and 8.

https://www.irs.gov/faqs/irs-procedures/forms-publications/new-exclusion-of-up-to-10200-of-unemployment-compensation

J

jeffmcpa2010

Level 10

take 5 minutes and look through any of the dozens of threads in the last few days asking the same question and you can find your answer

D

Dave KroppAnswer

Level 4

The exclusion should be reported separately from your unemployment compensation. See the updated instructions and the Unemployment Compensation Exclusion Worksheet to figure your exclusion and the amount to enter on Schedule 1, lines 7 and 8.

https://www.irs.gov/faqs/irs-procedures/forms-publications/new-exclusion-of-up-to-10200-of-unemployment-compensation

D

dmccpa

Level 4

IS the $150k MAGI for single taxpayers?

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