I had my taxes withheld from my unemployment benefits, so why do I still owe money on them?

Please verify, that you have entered the federal withholdings correctly. It will show up on line 25b of Form 1040.  

Did you have any other income?

Please be aware, if the number shown on the top left green, then you are getting a refund. If the number on the top left is grey, then you have a balance due.

Also, 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. The exclusion will show up on line 8 of Schedule 1.

To preview your Form 1040 and Schedule 1:

1. Click on "Tax Tools" in the left menu
2. Click "Tools"
3. Click "View Tax Summary" in the Tool Center window
4. Click on "Preview my 1040" on the left