NYS Department of Labor unemployment benefits - is unemployment income taxable on 2024 returns?
I've been collecting unemployment since September and just realized I should probably ask about taxes before filing my 2024 return. Is unemployment income taxable? I got around $8,200 total from NYS Department of Labor last year. My friend said she didn't have to pay taxes on hers but that was during COVID. Should I have been setting money aside? I'm worried I'm going to owe a bunch when I file.
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Emma Johnson
Yes, unemployment benefits are considered taxable income by both federal and New York state. NYS Department of Labor should have sent you a 1099-G form showing the total amount you received in 2024. You can choose to have taxes withheld from your weekly payments when you file your weekly certification, or pay when you file your return.
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Faith Kingston
•Oh no, I never got a 1099-G form! How do I get that? And can I still have taxes withheld even though I've been getting benefits for months?
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Liam Brown
You can download your 1099-G from your my.ny.gov account under the NYS Department of Labor section. For withholding, log into your weekly claim certification and there should be an option to have 10% federal tax withheld from future payments. You can't retroactively withhold from past payments though.
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Olivia Garcia
•This is really helpful! I had no idea you could set up withholding through the weekly claims.
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Noah Lee
ugh why is this so confusing!! i thought unemployment was supposed to help not create more problems with taxes. does anyone know roughly how much you'd owe on $8000?
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Emma Johnson
•It depends on your total income and tax bracket. If unemployment was your only income, you might not owe much since $8,200 is below the standard deduction. But if you had other income too, it could push you into owing taxes.
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Ava Hernandez
I had a nightmare trying to get through to NYS Department of Labor about my 1099-G last year. Their phone lines are always busy and the online chat never works. If you can't find your form online, you might want to try claimyr.com - they help people get through to actual NYS Department of Labor agents. There's a video demo at https://youtu.be/qyftW-mnTNI that shows how it works. Saved me hours of calling.
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Faith Kingston
•Thanks, I'll check that out if I can't find the form in my account. Really hoping it's just hiding somewhere in there.
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Isabella Martin
Your friend was probably thinking of the special COVID unemployment programs where taxes were waived on the first $10,200 for 2020 only. Regular state unemployment has always been taxable. Make sure you keep records of everything!
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