Question

Should I deduct $10,200 from the amount of unemployment recieved before entering the amount of unemployment recieved

Forum|Forum|5 years ago
April 15, 2021
1 reply
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For example: If I received $19,000 in unemployment for the year 2020, do I deduct $10,200 from the $19,000, giving me $8,800 to enter into unemployment recieved?
If not, how do I claim it??

TurboTax Free Edition Online

DoninGA

Employee

You enter the total amount of the unemployment compensation received. The TurboTax program will calculate the amount of exclusion.

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.

Click on Tax Tools on the left side of the screen. Click on Tools. Click on View Tax Summary. Click on Preview my 1040 on the left side of the screen.