Question

Unemployment insurance income

Forum|Forum|5 years ago
April 11, 2021
1 reply
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I received unemployment income of $6,000. My income including unemployment insurance is $153,000. If I exclude the unemployment insurance income it is $147,000. On Schedule 1 there was an elimination of the $6000. Is that correct??

Thanks

Richard

rjs

Employee

Yes, that is correct. You qualify for the unemployment exclusion if your Modified Adjusted Gross Income (MAGI), excluding unemployment benefits, is less than $150,000.