Question

Unemployment

Forum|Forum|4 years ago
September 9, 2021
1 reply
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If my only income was unemployment the full year will I still get taxes when filing married fileing joint and 3 dependents

A

Anonymous

Hello kerihood,

Thank you for participating in the Ask the Expert event. As to your question, it will depend on how much unemployment benefits you received. If you are filing jointly with your spouse, then your standard deduction will be $25,100, where any unemployment benefits received above that amount will be subject to taxes. However, since you have 3 dependents you will receive a $2,000 credit for each child 17 years of age and under to apply toward any taxes owed.

I hope that helps answer your question.