Ask Terry Questions Unemployment taxable? Stimulus taxable?

Unemployment taxable? Stimulus taxable?

By Terry Savage on May 09, 2020 | Wild Card

Can unemployment tax my $600 a week stimulus amount?

Terry Says

Let’s get a few things clear. Your stimulus payment of $1200 is NOT taxable. BUT your unemployment benefits (including the $600/week added by the Federal government) ARE TAXABLE as ordinary income!

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