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May 14, 2021
Question

Why isn't the $10,200 reduction in unemployment appearing on line 8 of Section 1 as led to believe by Turbo Tax? Should I go ahead & file - as is?

  • May 14, 2021
  • 1 reply
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1 reply

DoninGA
Employee
May 14, 2021

Is your 2020 AGI $150,000 or more?  If so, there is no exemption for the unemployment compensation.

Is your  unemployment compensation shown on Schedule 1 Line 7?

 

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.