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Do u receive a tax break for repayment of overpayment of unemployment benefits in same year

Forum|Forum|7 years ago
June 6, 2019
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TurboTax Free Edition Android

Best answer by Critter

When you enter the 1099-G in the program there is a box for the repayment amount done in the same tax year ... so the payment out (box 1) and the repayment is netted on your return ... the 1099-G should have that amount listed.

X

xmasbaby0

Employee

You want to know if repaying an overpayment of unemployment compensation is deductible? No it is not.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

A

Anonymous

If you repaid the overpayment of unemployment benefits in the same year you received them — Subtract the amount of unemployment repayment from the total taxable amount you received. Report the difference as unemployment compensation.

CritterAnswer

Employee

When you enter the 1099-G in the program there is a box for the repayment amount done in the same tax year ... so the payment out (box 1) and the repayment is netted on your return ... the 1099-G should have that amount listed.

Critter

Employee

The TT program makes it easy ... see the screenshot in the answer below.