I have a question about filing unemployment compensation and social security income tax. When I report my total wages on Form 1040, Line 7, do I include my Social Security income and unemployment?
Regarding filing unemployment compensation and social security income tax, neither Social Security or unemployment benefit payments count as taxable wages so you do not have to report them as income. On your Form 1040, claim:
- Unemployment compensation on Line 19
- Social Security income on Line 20
Related Resources
What triggers the IRS to audit a tax return? Learn how common tax mistakes and errors can be a red flag and affect your chances of being audited by the IRS.
Find the current percentages for federal income tax rates, capital gains tax rates, Social Security tax rates and more from the tax experts at H&R Block.
The key to understanding your w-2 form is decoding the boxes and numbers. Learn how to read your w-2 form with this box-by-box infographic from H&R Block.
The tax experts at H&R Block outline how students and parents can file Form 8863 and document qualified expenses. Read about Form 8863 here.