Question

I was in unemployment for 10 weeks in missouri. They withheld taxes on payments. If it is taxable income is it possible i will see a higher return? Or could i even owe?

Forum|Forum|5 years ago
January 7, 2021
1 reply
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Unsure how this is gonna work as my parents took care of my taxes until last year whem i started doing them myself. Plus obviously there were some crazy circumstances in 2020

TurboTax Online

Hal_Al

Employee

Yes, it could go either way, depending on the amounts.

Unemployment compensation is taxable income and must be reported on your tax return. The tax withholding may or may not been enough. Most people get a refund. Just enter the 1099-G and let TurboTax do the calcs.