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1 reply

D
DanaB27
May 15, 2021

If you have filed before the law changes then the IRS will issue you a refund for the taxes paid. Please see IRS begins correcting tax returns for unemployment compensation income exclusion; periodic payments to be made May through summer

 

If you filed after the law changes then the unemployment exclusion will be on line 8 on Schedule 1.

 

If your modified adjusted gross income (MAGI) is less than $150,000, then you can exclude up to $10,200 of unemployment compensation paid in 2020 from your taxable income. Amounts over $10,200 for each individual are still taxable.

 

 

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