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is it true unemployment for 2020 is not taxable per "the american rescue plan"

699574
Level 3

I have a client who told me that his $18,000. in unemployment is non taxable,  this is  correct

to a certain degree according to the "the American rescue plan" as I read it. are we correct?

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5 Replies 5
ktipsord
Level 2

$10,200 can be excluded however, there are income limitations. 

qbteachmt
Level 15

"are we correct?"

No.

Don't believe Clients' opinions. Do your own research.

*******************************
"Level Up" is a gaming function, not a real life function.
abctax55
Level 15

SMH... I'm speechless.

Former Chump..oops..AllStar...I used to be a people person, then people ruined it


If a post answers your question, click on *Accept as solution* for future searches
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Just-Lisa-Now-
Level 15
Level 15

Wow.   Im not even sure where to go with this.

@699574 are you a professional tax preparer?


♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
jeffmcpa2010
Level 8

I have had that question a number of times in the last couple of weeks Lisa.

Your patience in answering all these repetitive questions is Amazing

👍

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