Page 132 - Other Income for Individuals

Additional Unemployment Benefits (4/5)

Repayment of benefits

 You may have to repay some of your
supplemental unemployment benefits to
qualify for trade readjustment allowances
under the Trade Act of 1974. If you repay
supplemental unemployment benefits in the
same year you receive them, reduce the
total benefits by the amount you repay.
 If you repay the benefits in a later year, you
must include the full amount of the benefits
received in your income for the year you

received them.
 Deduct the repayment in the later year as an
adjustment to gross income on Form 1040 or Private Unemployment Fund
1040-SR. Include the repayment on Schedule
1 (Form 1040), line 22, and see the  Unemployment benefit payments from a
instructions there. private (nonunion) fund to which you
 If the amount you repay in a later year is voluntarily contribute are taxable only if
more than $3,000, you may be able to take a the amounts you receive are more than
credit against your tax for the later year your total payments into the fund.
instead of deducting the amount repaid.  Report the taxable amount on Schedule 1

 For more information on this, see (Form 1040), line 8
Repayments, earlier.
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