Question

If Biden passed a bill that forgave $10,200 of unemployment money. Why did I still have to pay back near $1,000 in unemployment taxes when I filed after the bill passed?

Forum|Forum|5 years ago
June 5, 2021
2 replies
0 views

My taxes came up to around $2,000 before the bill was passed. So I waited to file after but I still had to pay nearly $1,000. I only paid taxes because of unemployment, so why if the bill was passed before I filed, why did I still have to pay.. I thought the $10,200 of unemployment forgiveness covered it?

TurboTax Free Edition Online

macuser_22

Employee

If your AGI was under $150,000 then up to $10,200 would be deducted from your AGI. What AGI is left is still taxable.

Look at your 1040 schedule 1, line 8 for "UCE" and amount that was deducted.

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**

DoninGA

Employee

The unemployment compensation exclusion was updated across all TurboTax platforms, online and desktop, on 03/26/2021.

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.

To access your current or prior year online tax returns sign onto the TurboTax website with the User ID you used to create the account - https://myturbotax.intuit.com/

When you sign onto your online account and land on the Tax Home web page, scroll down and click on Add a state.

This will take you back to the 2020 online tax return.

Click on Tax Tools on the left side of the online program screen. Then click on Print Center. Then click on Print, save or preview this year's return. Choose the option Include government and TurboTax worksheets