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April 6, 2021
Question

Incom why ame I getting a $10,000.00

  • April 6, 2021
  • 2 replies
  • 0 views

Why am I getting a -$10.000.00  on incomewhy is this happening

    2 replies

    Employee
    April 6, 2021

    Did you report a 1099-G for Unemployment Comp?  The first $10,200 is nontaxable.

    JohnB5677
    April 6, 2021

    This sounds like you may have gotten the $10,200 exemption for unemployment.  

     

    It is first recorded on Schedule 1 as Unemployment Compensation on line 7.  Then on line 8 there is a UCE (Unemployment Compensation Exclusion) of -$10,200. This is then carried over and posted to your tax return (1040) on line 8.

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