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Guide to Unemployment and Taxes

Written by a TurboTax Expert • Reviewed by a TurboTax CPAUpdated for Tax Year 2024 • October 16, 2024 1:01 AM
OVERVIEW

The IRS considers unemployment compensation to be taxable income that you'll need to report on your federal tax return. State unemployment divisions issue an IRS Form 1099-G to each individual who receives unemployment benefits during the year.

 

Key Takeaways

  • The IRS and some states consider unemployment compensation to be taxable income, that you are required to report on your federal tax return.
  • Box 1 of Form 1099-G “Certain Government Payments,” from your state unemployment agency shows the amount of compensation to report. Keep this form with your tax records.
  • Report your unemployment compensation on Schedule 1 of your federal tax return in the “Additional Income” section and carry the information to your main Form 1040.
  • If you choose to have income tax withheld from your benefits, the total federal tax withheld will appear in Box 4 of Form 1099-G, and the state tax withheld will appear in Box 11.

 

What is unemployment compensation?

Unemployment compensation is a form of monetary assistance provided by the federal and state governments to people who are out of work. These benefits are mostly funded by taxes that are paid by employers at the federal and state levels.

Is unemployment income taxable?

If you received unemployment benefits this year, you can expect to receive a Form 1099-G “Certain Government Payments” that lists the total amount of compensation you received. The IRS considers unemployment compensation to be taxable income—and requires that it be reported on your federal tax return. Some states also count unemployment benefits as taxable income.

Who's eligible for unemployment benefits?

Generally, employees who are laid off or who lose their jobs through no fault of their own typically qualify for unemployment benefits. Taxpayers who want to receive unemployment compensation can apply for benefits through their state programs. The amount of compensation they receive typically depends on:

  • the amount of time they worked
  • their earnings
  • the maximum benefit their state allows

How are unemployment benefits taxed?

Unemployment benefits are included along with your other income such as wages, salaries, and bank interest (For tax year 2020, the first $10,200 of unemployment income was tax free for taxpayers with an AGI of less than $150,000 regardless of filing status). The total amount of income you receive, including your unemployment benefits, and your filing status determines if you need to file a tax return.

TurboTax Tip:

Use the TurboTax Unemployment Center to learn more about unemployment benefits, insurance, and eligibility.

What happens if you forget to report your unemployment income?

If you forget to report unemployment income, you could face penalties. To avoid penalties, you should file an amended tax return. 

To amend your tax return, use Form 1040-X. When filing your amended return, you’ll need to include Form 1099-G.

What is Form 1099-G?

State unemployment divisions issue an IRS Form 1099-G to each individual who receives unemployment benefits during the year. On this form, you’ll see the total amount of your compensation reported in Box 1.

When you receive benefits, you can usually choose to have income taxes withheld from your compensation to avoid owing a large amount of tax on your tax returns. If you choose to have income tax withheld from your benefits:

  • The total federal tax withheld will appear in Box 4.
  • The state tax withheld will appear in Box 11.

Typically, you should receive your 1099-G by January 31.

Some states will automatically send Form 1099-G via mail, while others will deliver the form based on the delivery option you’ve selected. 

If you’ve chosen to receive your 1099-G electronically, you can find it on your state’s unemployment agency website.

How do you report unemployment income without Form 1099-G?

If you haven’t received Form 1099-G, or you’ve lost the one that was sent to you, you can view that information on your state’s unemployment agency website. Once you log in, you should be able to request another one.

What if your 1099-G is incorrect?

If the unemployment income is incorrect on Form 1099-G, you may be able to correct it by reaching out to your state’s unemployment agency. Once you’ve contacted them, they can issue a corrected Form 1099-G and update the IRS. 

If you’ve received an incorrect Form 1099-G or you received one even though you didn’t claim unemployment benefits, you might be a victim of unemployment fraud.

What do you do if you’re a victim of unemployment fraud?

If you think you’ve been a victim of unemployment identity fraud, you’ll need to report it to your state’s unemployment agency. They’ll handle corrections, but in the meantime, you can:

  • Move forward with filing your taxes
  • Report the correct unemployment income
  • Check your credit report and accounts for fraudulent activity

How do you report unemployment benefits on your tax return?

You report your unemployment compensation on Schedule 1 of your federal tax return in the Additional Income section. The amount will be carried to the main Form 1040. Remember to keep all of your forms, including any 1099-G form you receive, with your tax records.

If you use TurboTax to file your taxes, we’ll ask about your unemployment income and put the information in all the right tax forms for you.

TurboTax is here to help with our Unemployment Benefits Center. Learn more about unemployment benefits, insurance, eligibility and get your tax and financial questions answered.

 

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The above article is intended to provide generalized financial information designed to educate a broad segment of the public; it does not give personalized tax, investment, legal, or other business and professional advice. Before taking any action, you should always seek the assistance of a professional who knows your particular situation for advice on taxes, your investments, the law, or any other business and professional matters that affect you and/or your business.

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  • 100% Accurate Calculations Guarantee - Individual Returns: If you pay an IRS or state penalty or interest because of a TurboTax calculation error, we'll pay you the penalty and interest. Excludes payment plans. This guarantee is good for the lifetime of your personal, individual tax return, which Intuit defines as seven years from the date you filed it with TurboTax Desktop. Excludes TurboTax Desktop Business returns. Additional terms and limitations apply. See License Agreement for details.

  • Maximum Refund Guarantee / Maximum Tax Savings Guarantee - or Your Money Back - Individual Returns: If you get a larger refund or smaller tax due from another tax preparation method by filing an amended return, we'll refund the applicable TurboTax federal and/or state software license purchase price you paid. This guarantee is good for the lifetime of your personal, individual tax return, which Intuit defines as seven years from the date you filed it with TurboTax Desktop. Excludes TurboTax Desktop Business returns. Additional terms and limitations apply. See License Agreement for details.

  • Audit Support Guarantee - Individual Returns: If you receive an audit letter from the IRS or State Department of Revenue based on your 2024 TurboTax individual tax return, we will provide one-on-one question-and-answer support with a tax professional, if requested through our Audit Support Center, for audited individual returns filed with TurboTax Desktop for the current 2024 tax year and, for individual, non-business returns, for the past two tax years (2022, 2023). Audit support is informational only. We will not represent you before the IRS or state tax authority or provide legal advice. If we are not able to connect you to one of our tax professionals, we will refund the applicable TurboTax federal and/or state license purchase price you paid. This guarantee is good for the lifetime of your personal, individual tax return, which Intuit defines as seven years from the date you filed it with TurboTax Desktop. Excludes TurboTax Desktop Business returns. Additional terms and limitations apply. See License Agreement  for details.

  • Satisfaction Guarantee/ 60-Day Money Back Guarantee: If you're not completely satisfied with TurboTax Desktop software, go to refundrequest.intuit.com within 60 days of purchase and follow the process listed to submit a refund request. You must return this product using your license code or order number and dated receipt. Desktop add-on products and services purchased are non-refundable.

TurboTax Desktop Business Returns:

  • 100% Accurate Calculations Guarantee - Business Returns: If you pay an IRS or state penalty or interest because of a TurboTax calculation error, we'll pay you the penalty and interest. Excludes payment plans. You are responsible for paying any additional tax liability you may owe. Additional terms and limitations apply. See License Agreement  for details.

  • Maximum Tax Savings Guarantee - Business Returns: If you get a smaller tax due (or larger business tax refund) from another tax preparation method using the same data, TurboTax will refund the applicable TurboTax Business Desktop license purchase price you paid. Additional terms and limitations apply. See License Agreement  for details.

  • Satisfaction Guarantee/ 60-Day Money Back Guarantee: If you're not completely satisfied with TurboTax Desktop software, go to refundrequest.intuit.com within 60 days of purchase and follow the process listed to submit a refund request. You must return this product using your license code or order number and dated receipt. Desktop add-on products and services purchased are non-refundable.

TURBOTAX DESKTOP DISCLAIMERS

  • Installation Requirements: Product download, installation and activation requires an Intuit Account and internet connection. Product limited to one account per license code. You must accept the TurboTax License Agreement to use this product. Not for use by paid preparers.

  • TurboTax Desktop Products: Price includes tax preparation and printing of federal tax returns and free federal e-file of up to 5 federal tax returns. Additional fees apply for e-filing state returns. E-file fees may not apply in certain states, check here for details. Savings and price comparison based on anticipated price increase. Software updates and optional online features require internet connection. Desktop add-on products and services purchased are non-refundable.

  • Fastest Refund Possible: Get your tax refund from the IRS as fast as possible by e-filing and choosing to receive your refund by direct deposit. Tax refund time frames will vary. The IRS issues more than 9 out of 10 refunds in less than 21 days.

  • Average Refund Amount: $3,207 is the average refund amount American taxpayers received in the 2024 filing season based upon IRS data as of February 16, 2024 and may not reflect actual refund amount received.

  • TurboTax Technical Support: Customer service and technical support hours and options vary by time of year.

  • Deduct From Your Federal Refund: Individual taxes only. Subject to eligibility requirements. Additional terms apply. A $40 Refund Processing Service fee applies to this payment. method. Prices are subject to change without notice.

  • Data Import: Imports financial data from participating companies; Requires Intuit Account. Quicken and QuickBooks import not available with TurboTax installed on a Mac. Imports from Quicken (2022 and higher) and QuickBooks Desktop (2023 and higher); both Windows only. Quicken import not available for TurboTax Desktop Business. Quicken products provided by Quicken Inc., Quicken import subject to change.

  • Live Tax Advice: Access to tax experts to obtain answers to tax questions and to assist with tax year 2024 return(s) prepared with TurboTax Desktop software. Additional fees apply. Must be purchased and used by October 31, 2025. Excludes TurboTax Desktop Business. See License Agreement for details.

  • Audit Defense: Audit Defense is a third-party add-on service provided, for a fee, by TaxResources, Inc., dba Tax Audit. See Membership Agreements at https://turbotax.intuit.com/corp/softwarelicense/ for service terms and conditions.

All features, services, support, prices, offers, terms and conditions are subject to change without notice.

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