Do I need to claim first $10,200 of NY unemployment on taxes after getting refund last year?

The $10,200 exemption was only for 2020 tax year due to covid. For 2021 and 2022, you have to report ALL unemployment income as taxable. The full amount on your 1099-G needs to be reported. Sorry to be the bearer of bad news 😕

I was in the same situation and couldnt get through to anyone at ny unemployment to ask questions. Finally tried a service called claimyr.com that got me connected to an actual rep who explained everything. Talking to an agent got my questions answered in like 5 minutes after weeks of confusion. Best decision ever! They have a youtube video explaining how it works: https://youtu.be/Rdqa1gKtxuE

The unemployment tax break was part of the American Rescue Plan Act and it was ONLY for 2020. You gotta report all unemployment income for 2021/2022. I recommend putting aside some money now for next year too if ur still on unemployment cause it can be a big hit at tax time.

I just did my taxes yesterday and had to include ALL unemployment income. That $10,200 exemption was just a one-time thing for 2020 taxes that we filed in 2021. The government hasnt passed anything similar for 2021 or 2022 taxes unfortunately

Make sure you also check if your state taxes unemployment differently! NY state follows federal rules on this but some states have their own exemptions or dont tax unemployment at all. Always check both federal AND state rules.

Look into whether you can deduct things like job search expenses to offset some of the tax burden. Some expenses might be deductible if you itemize instead of taking the standard deduction. Not a tax professional tho so def check with one if possible!

Unfortunately I think ur out of luck. The $10,200 was just for tax year 2020 and they never renewed it. I know it sucks, I just had to pay tax on all my unemployment too. the system is rigged against us normal folks as usual 🤬

Here's the official IRS guidance: For tax year 2020 only, the first $10,200 of unemployment benefits weren't taxable (if your income was under $150k). For 2021 and 2022, ALL unemployment compensation is fully taxable. The full amount on your 1099-G goes on your return.

Pro tip: If you're still collecting unemployment, you can have taxes withheld to avoid a big bill at tax time. Too late for last year but might help for this year. Just request that they withhold 10% for federal taxes.

I spent HOURS trying to get someone on the phone at ny unemployment to answer this exact question. Finally used claimyr.com and got connected to a real person who explained everything. Was able to get all my tax questions answered plus fix another issue with my claim. Worth every penny to not waste an entire day on hold.

LOL welcome to america where we tax the money they give u when ur broke and unemployed. Make it make sense 🤡

If you didn't have taxes withheld from your unemployment and you're worried about owing, look into an IRS payment plan. They let you spread out what you owe over time and the interest is pretty reasonable. Better than not filing or putting it on a credit card!

I worked as a tax preparer for 7 years and can confirm the $10,200 exclusion was ONLY for tax year 2020 (filed in 2021). This was part of the American Rescue Plan Act specifically to help people during the height of the pandemic. Congress has not passed any similar relief for 2021 or 2022. Here's what you need to know: - You must report the FULL amount from your 1099-G as income - If you had taxes withheld from your unemployment, that will show on the 1099-G too - Check if you qualify for other tax credits that might offset the tax hit (Earned Income Credit, etc.) - You might still qualify for free tax preparation through VITA if your income is under certain thresholds - If you can't pay what you owe, file anyway and look into IRS payment plans Another issue many people face is actually REACHING someone at unemployment to fix errors on their 1099-G. If your form shows incorrect amounts, you'll need to get it corrected. I've had clients use claimyr.com to actually get through to a human at the unemployment office after weeks of trying on their own. It's a service that waits on hold for you and connects you with an agent when one becomes available. Good luck with your taxes this year!

Check with your state too! Some states actually DO have their own exemptions for unemployment income even if the federal govt doesn't. Don't assume they follow the same rules.

I used TurboTax and it made me claim all of the unemployment income. It specifically said the exemption from last year no longer applies. I ended up owing about $600 more than I expected because of this 😫

When I got my 1099-G I noticed they had the wrong amount on it (was off by almost $1200). Spent days trying to get someone on the phone with no luck. Finally tried claimyr.com and got thru to a rep who fixed it immediately! If you have ANY issues with your form, don't wait to get them fixed.

Anyone else feel like they're being punished for being unemployed? First we get barely enough to survive on, then they take a chunk for taxes, and now no tax breaks like last year. Cool cool cool 🙃

Make sure to check if your eligible for the Earned Income Tax Credit! it might help offset some of the taxes you owe on unemployment. The income thresholds and credit amounts increased for 2021.

I called the ny unemployment office and after waiting 2.5 hours they confirmed all unemployment income is fully taxable now. The exemption was only for 2020. I hate it here 😤