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July 24, 2021
Question

Should my unemployment income say 0 if it's less than 10,200 and I qualify for the entire credit

  • July 24, 2021
  • 1 reply
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1 reply

DoninGA
Employee
July 24, 2021

It is not a credit.  The unemployment compensation exclusion removes the amount of unemployment compensation received from your total income, up to $10,200.

 

The exclusion is reported on Schedule 1 Line 8 as a negative number.  The unemployment compensation received is on Line 7 of Schedule 1.  The result flows to Form 1040 Line 8.