2007-01-20 14:13:48 · 5 answers · asked by redhawk3523 1 in Business & Finance ➔ Taxes ➔ United States
Unemployment benefits are taxable income. You will receive a 1099G showing the amounts paid and any federal tax withholding.
Enter your unemployment benefits on Line 19 of Form 1040, Line 13 of Form 1040A, or Line 3 of Form 1040EZ.
2007-01-20 14:25:50 · answer #1 · answered by ninasgramma 7 · 0⤊ 0⤋
You have to pay taxes on it unless you had a percentage withdrawn from your unemployment check. You have to report your unemployment earnings on Line 19 of Form 1040, Line 13 of Form 1040A or Line 3 of Form 1040- EZ.
2007-01-20 14:24:28 · answer #2 · answered by porselin 2 · 0⤊ 0⤋
For federal, unemployment comp is taxable income, so you'll get a form in the mail for it and will show it on your tax return. If you didn't have taxes withheld from the payments, it will either reduce your refund or cause you to owe.
For state, unemp comp is usually not taxable.
2007-01-20 14:20:16 · answer #3 · answered by Judy 7 · 1⤊ 0⤋
Unemployment compensation is taxable income. The state may or may not withhold tax from it and if they don't you will have to declare everything you get paid. Earned or not, it is still income. If the state withholds tax, you can show that when you complete the form to show your unemployment comp. income.
2007-01-20 14:21:49 · answer #4 · answered by David L 6 · 1⤊ 0⤋
A tax refund doesn't affect unemployment at all. They know how much money you earned last year.
2016-05-24 02:59:37 · answer #5 · answered by Anonymous · 0⤊ 0⤋