{"id":22297,"date":"2020-08-25T16:05:53","date_gmt":"2020-08-25T20:05:53","guid":{"rendered":"https:\/\/blog.eztaxreturn.com\/?p=22297"},"modified":"2023-06-05T14:05:14","modified_gmt":"2023-06-05T19:05:14","slug":"tax-treatment-of-unemployment-benefits","status":"publish","type":"post","link":"https:\/\/staging.eztaxreturn.com\/blog\/tax-treatment-of-unemployment-benefits\/","title":{"rendered":"Tax Treatment of Unemployment Benefits"},"content":{"rendered":"\r\n<p class=\"wp-block-paragraph\">The tax treatment of unemployment benefits you receive depends on the type of program paying the benefits. Unemployment compensation <strong>includes<\/strong> amounts received under the laws of the United States or of a state, such as:<\/p>\r\n\r\n\r\n\r\n<ul class=\"wp-block-list\">\r\n<li>State unemployment insurance benefits<\/li>\r\n\r\n\r\n\r\n<li>Benefits paid to you by a state or the District of Columbia from the Federal Unemployment Trust Fund<\/li>\r\n\r\n\r\n\r\n<li>Railroad unemployment compensation benefits<\/li>\r\n\r\n\r\n\r\n<li>Disability benefits paid as a substitute for unemployment compensation<\/li>\r\n\r\n\r\n\r\n<li>Trade readjustment allowances under the Trade Act of 1974<\/li>\r\n\r\n\r\n\r\n<li>Unemployment assistance under the Disaster Relief and Emergency Assistance Act of 1974, and<\/li>\r\n\r\n\r\n\r\n<li>Unemployment assistance under the Airline Deregulation Act of 1978 Program<\/li>\r\n<\/ul>\r\n\r\n\r\n\r\n<p class=\"wp-block-paragraph\">If you received unemployment compensation during the year, you must include it in gross income. To determine if your unemployment is taxable, see <a href=\"https:\/\/www.irs.gov\/help\/ita\/are-payments-i-receive-for-being-unemployed-taxable\" target=\"_blank\" rel=\"noreferrer noopener\">Are Payments I Receive for Being Unemployed Taxable?<\/a><\/p>\r\n\r\n\r\n\r\n<p class=\"wp-block-paragraph\">You may be required to make quarterly <a href=\"https:\/\/www.irs.gov\/help\/ita\/am-i-required-to-make-estimated-tax-payments\" target=\"_blank\" rel=\"noreferrer noopener\">estimated tax payments<\/a>. However, you can choose to have federal income tax withheld. For more information, refer to <a href=\"https:\/\/www.irs.gov\/pub\/irs-pdf\/fw4v.pdf\" target=\"_blank\" rel=\"noreferrer noopener\">Form W-4V, Voluntary Withholding Request (PDF)<\/a>. You should receive a <a href=\"https:\/\/www.irs.gov\/pub\/irs-pdf\/f1099g.pdf\" target=\"_blank\" rel=\"noreferrer noopener\">Form 1099-G, Certain Government Payments (PDF)<\/a> showing the amount of unemployment compensation paid to you during the year in Box 1, and any federal income tax withheld in Box 4. Report the amount shown in Box 1 on line\u00a07 of <a href=\"https:\/\/www.irs.gov\/pub\/irs-pdf\/f1040s1.pdf\" target=\"_blank\" rel=\"noreferrer noopener\">Schedule 1, (Form 1040 or 1040-SR), Additional Income and Adjustments to Income (PDF)<\/a> and attach this to the <a href=\"https:\/\/www.irs.gov\/pub\/irs-pdf\/f1040.pdf\" target=\"_blank\" rel=\"noreferrer noopener\">Form 1040 (PDF)<\/a>\u00a0or <a href=\"https:\/\/www.irs.gov\/pub\/irs-pdf\/f1040s.pdf\" target=\"_blank\" rel=\"noreferrer noopener\">Form 1040-SR (PDF)<\/a>. Include the withholding shown in Box 4 on line 17 of Form 1040 or Form 1040-SR. For more information on unemployment, see <em>Unemployment Benefits<\/em> in <a href=\"https:\/\/www.irs.gov\/publications\/p525\" target=\"_blank\" rel=\"noreferrer noopener\">Publication 525<\/a>.<\/p>\r\n\r\n\r\n\r\n<p class=\"wp-block-paragraph\"><strong>Source: www.irs.gov<\/strong><\/p>\r\n","protected":false},"excerpt":{"rendered":"<p>The tax treatment of unemployment benefits you receive depends on the type of program paying the benefits. Unemployment compensation includes amounts received under the laws of the United States or of a state, such as: If you received unemployment compensation during the year, you must include it in gross income. To determine if your unemployment [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":22299,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"off","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[6],"tags":[],"class_list":["post-22297","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-irs-and-government"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.13 (Yoast SEO v20.13) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Tax Treatment of Unemployment Benefits<\/title>\n<meta name=\"description\" content=\"The tax treatment of unemployment benefits you receive depends on the type of program paying the benefits.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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