also child support takes half per week.
2007-01-05 10:31:12 · 5 answers · asked by kcpunk 1 in Business & Finance ➔ Taxes ➔ United States
Instead of drawing unemployment for 24 weeks, why don't you get a job. Are you a lazy freeloader? ? ? ? ? It sounds like you are!
2007-01-05 10:37:21 · answer #1 · answered by rliescheidt 2 · 0⤊ 1⤋
Unemployment compensation is fully taxable on your US Form 1040. That's insult to your injury.
How much tax? That depends on your other income during the year.
However, if this was your ONLY income, and you are single with no dependents, your tax will be a whopping GOOSE EGG anyway because you have a standard deduction of $5150 and an exemption of $3300
WealthBuilder
Tax Specialist
2007-01-05 18:41:44 · answer #2 · answered by WealthBuilder 4 · 2⤊ 0⤋
Usually states don't tax unemployment. The US government does. I don't believe child support is deductible, although one of the parents usually gets to claim the child as a dependent on their taxes and get the credit for that.
2007-01-05 18:38:31 · answer #3 · answered by Uncle Pennybags 7 · 1⤊ 0⤋
$6,480 of taxable income with zero in withholding? That will likely put a dent in your return if not make you owe money. The child support doesn't impact you at all....unless you get the deduction.
2007-01-05 18:37:20 · answer #4 · answered by digdowndeepnseattle 6 · 0⤊ 0⤋
This is going to be all taxable income and likely has no withholding. Child support is not a deduction, Alimony is if court ordered.
2007-01-05 18:39:36 · answer #5 · answered by Jerry 3 · 1⤊ 0⤋