New York - What Unemployment Benefits Taxable?


J

JohnC

I'm happily surprised. At least I think I am!

Earlier in the year my understanding was that New York, unlike the federal
government, was not going to allow the first $2,400 of unemployment
benefits to be tax free and was going to tax me on the entire amount of
the unemployment benefits I received.

(that makes so much sense... give it to me with one hand and take it away
with the other!)

Anyway... now that I have seen the form and instructions for the 2009 New
York income taxes, it appears that NY *WILL* exempt the first $2,400 of
unemployment benefits from taxes just like the federal income taxes did
for 2009.

I see no place on the tax form to add the $2,400 back in for New York
taxes and no mention of it in the list of potential additions. So I
assume they are allowing it.

So, what I am trying to figure out is: Am I happy or not?!

Is this right, or did NY make some kind of mistake on their forms and
forget to put that on there?

Sure looks good!

-------------------------------------





..
 
Ad

Advertisements

B

bh2os

I'm happily surprised.  At least I think I am!

Earlier in the year my understanding was that New York, unlike the federal
government, was not going to allow the first $2,400 of unemployment
benefits to be tax free and was going to tax me on the entire amount of
the unemployment benefits I received.

(that makes so much sense... give it to me with one hand and take it away
with the other!)

Anyway... now that I have seen the form and instructions for the 2009 New
York income taxes, it appears that NY *WILL* exempt the first $2,400 of
unemployment benefits from taxes just like the federal income taxes did
for 2009.

I see no place on the tax form to add the $2,400 back in for New York
taxes and no mention of it in the list of potential additions.  So I
assume they are allowing it.

So, what I am trying to figure out is:  Am I happy or not?!

Is this right, or did NY make some kind of mistake on their forms and
forget to put that on there?

Sure looks good!

-------------------------------------

##-----------------------------------------------##
Newsgroup Access Courtesyhttp://www.rockryno.com/
Tax and Accounting Software Forums
Web and RSS access to your favorite newsgroup -
misc.taxes.moderated - 24630 messages and counting!
When taxable income is carried over from Fed Forms, the $2400 will
already be in the figure. NO need to do anything more.
 

Ask a Question

Want to reply to this thread or ask your own question?

You'll need to choose a username for the site, which only take a couple of moments. After that, you can post your question and our members will help you out.

Ask a Question

Top