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L
lprimm86
April 8, 2021
Question

I am reporting unemployment income. Turbo tax is reporting it in line 7 of schedule 1 and then deducting it in line 8 of schedule 1. Can I update schedule 1?

  • April 8, 2021
  • 2 replies
  • 0 views
How do you report unemployment income in turbo tax?

2 replies

M
Mike9241
April 8, 2021

that's exactly the way it's supposed to be reported per the IRS.  report gross (line 7) then take a subtraction for the exclusion (line 8).  TurboTax computes the exclusion automatically so you need do nothing. 

    DoninGA
    DoninGA
    Employee
    April 8, 2021

    Due to the American Rescue Plan Act of 2021 the unemployment compensation exclusion is up to $10,200.  The exclusion is on Schedule 1 Line 8.

     

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