Yes, unemployment is taxable income. In fact, there is a specific place for it on Form 1040 -- Line 19.
This answer does not establish an attorney-client relationship, Moreover, this attorney is Licensed to practiced law ONLY in LOUISIANA and answers to questions from other jurisdictions or states are meant to provide only general information. Users should contact a local attorney in their jurisdiction or state.
Yes, it is taxable income and you should likely file a tax return. Best of luck!!
Andrew B Gordon is a CPA and attorney licensed to practice law in Illinois. The information provided here is for educational purposes only and is not intended as legal advice for a particular matter. This response does not create any attorney-client relationship with the author. For specific advice about your particular situation, please consult an attorney.
Yes, unemployment income is taxable. Depending on the amount of your gross income during 2012 (including unemployment income), you may not have a tax filing obligation. However, you should file a return nonetheless. Among other reasons for filing, you may be entitled to a refund.
This response is for general informational purposes only. It does not create or imply an attorney-client relationship between the reader or any other person and Lapekas Law, P.A.. This response may not be relied upon to avoid civil penalties that may be imposed by the IRS regarding any matter discussed herein.
Yes, it is definitively taxable income.
All information contained herein is not intended to create an attorney client relationship. =============================================================== CIRCULAR 230 DISCLOSURE: Per regulations governing practice before the Internal Revenue Service, any tax advice contained herein is not intended or written for use, and cannot be used, to avoid tax penalties that may be imposed on the taxpayer. ===============================================================