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Unemployment tax deduction (confused,help me understand)

Posted by on Jan. 25, 2010 at 5:51 PM
  • 9 Replies

So, due to the recent fall of the motorhme industries, I lost my job in 09. I was on unemployment most of 09. I got a letter saying that the first 2400.00 of your unemployment benifits is tax free as of January 2010. I have opted to have taxes taken out from day one. Does anyone know how this works, do i get refunded the taxes I paid into unemployment now or how will this work? thanks ahead of time to anyone that can help this tax-illiterate momma out lol

by on Jan. 25, 2010 at 5:51 PM
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Replies (1-9):
blazenangel5
by on Jan. 25, 2010 at 5:52 PM

oh, please dont mind the million spelling errors i just noticed lol! my lil one is on my lap and is making this pretty difficult!

itsallabtthem84
by on Jan. 25, 2010 at 5:54 PM

IDK, so here is a bump. Have you tried calling H&R Block? I am sure they can tell you.

kerrysmom
by on Jan. 25, 2010 at 5:55 PM

I'm wondering the same thing....

oboe_chik
by on Jan. 25, 2010 at 5:56 PM

They will only tax you on the income received after $2400...so if you paid taxes all along then yes you will get a refund of taxes that you paid that you shouldn't have.

blazenangel5
by on Jan. 25, 2010 at 5:57 PM

no, i havent called anyone just yet, its almost 6 here and am sure they are busy as heck there. I was just woundering if in the mean time anyone here knew anything of it. it would be a nice suprise if this is true.

blazenangel5
by on Jan. 25, 2010 at 5:59 PM


Quoting oboe_chik:

They will only tax you on the income received after $2400...so if you paid taxes all along then yes you will get a refund of taxes that you paid that you shouldn't have.


So, added on to my normal return should be a bit more for what I paid in? I know that they will subtract 2400 from what you recieved and only tax you on whats left but how does that help refund wise? Im sooo dumb at this i know, please bear with me lol one lady on another site said she got almost 80 percent of what she paid in, does that sound right?

kat247
by on Jan. 25, 2010 at 6:01 PM


Quoting kerrysmom:

I'm wondering the same thing....

 

yep me too...

oboe_chik
by on Jan. 25, 2010 at 6:02 PM


Quoting blazenangel5:

 

Quoting oboe_chik:

They will only tax you on the income received after $2400...so if you paid taxes all along then yes you will get a refund of taxes that you paid that you shouldn't have.


So, added on to my normal return should be a bit more for what I paid in? I know that they will subtract 2400 from what you recieved and only tax you on whats left but how does that help refund wise? Im sooo dumb at this i know, please bear with me lol one lady on another site said she got almost 80 percent of what she paid in, does that sound right?

Depends on how much income you have, tax bracket, and filing status. You could get a bunch back or the income could bump you up to the next tax bracket and cause you to have to pay more in. It just depends.

blazenangel5
by on Jan. 25, 2010 at 6:13 PM

when we went to talk to h&r block to get the loan around xmas time, we were in a low one, we only made like 15,000 last year not including unemployment,with 3 kids it was estimated our refund would be 9,000. This was before this unemploment thing. I paid in alot of taxes on unemployment, clear since the beg of 09. I also heard you can claim being a student too, i just dont know how any of this works.

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