| Has anyone collected unemployment all year and gotten a tax refund |
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HackedB
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l am wondering if l will get anything back.l have 2 dependents.Last year, when l was working l got $5,000 back.l know that unemployment is unearned income.l have not worked this entire year, any idea what to expect?l was hoping to come across someone who has been in a similar situation.
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Wil
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You will receive no refund for a return with only unemployment compensation. If your unemployment compensation, plus other income, is more than the filing requirement ($11,500 for a head of household under age 65), then you will need to file a tax return.
However, you income would have to exceed $18,500 in order to have any taxable income.
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North
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Unemployment comp is taxable income, so if you had enough to be required to file, you must file. If you made enough to owe any tax on it, which is very unlikely, then you'd have to pay that amount.
If you had tax withheld from your unemployment comp, you might get some or all of that refunded. But it is not earned income, so will not qualify for EIC.
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zofta2
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Unemployment comp IS taxable income. Did you have taxes withheld from it? If you did have taxes withheld at an amount greater than your liability then you will get a refund. If an amount less than your liability was withheld then you will have to pay.
If got $5,000 back last year most likely because you claimed the EIC. which you can only claim if you have enough EARNED income. Unemployment is not considered earned income.
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Coach
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Did they take taxes from the unemployment? If not you may owe.
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