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Received unemployment benefits, how much in taxes will I owe?CA
Hello, I received unemployment benefits for a few months in 2009 after a layoff. I did not having any taxes coming out of that ,as it was already almost impossible to make it with the benefits as it was. My question now in preparing to file my taxes is will I receive information from the state(CA) before I file? How can I figure how much I will have to pay in taxes? Need to know how this will effect my refund(or not). I appreciate your time with this.
Yes, you should receive a 1099 from the state, at least I think that's what the form is.
And there is a tax exemption on the first 2400 of benefits for 2009 because of ARRA (American Recovery and Reinvestment Act).
You can read more about that at the IRS
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