Tax Season 2008

Ok got a question this past yr i have been on unemployment from a lay off (1/1/07 to 5/1/07) and each check i recv'd i checked to have taxes taken out so i dont have to deal with it at the end. Can unemployment along with my W2's from the current job i am on be filed as income? Any tax professional GC'rs know the answer?

[Benzgirl]

I am not a tax professional (and no longer sitting at my mom's house), but know a little about taxes from analysing returns for many years.

You only should file one tax return. Unemployment Income must be claimed on the same form (Line 19 of your 1040) as your other income.
http://www.irs.gov/pub/irs-pdf/f1040.pdf

thanks benzgirl. Oh i do combine one amt but i just wanted to know basically that unemployment was considered income and could file it. Thank you for the info!

[BuckeyeTriDelta]

I'm nervous because this is the first year I will be doing taxes on my own. Last year my dad took mine and had them done along with the family. I think I will take them and have them done as well. I have no idea how to even start with taxes.

[AlphaFrog]

Originally Posted by cutiepatootie

thanks benzgirl. Oh i do combine one amt but i just wanted to know basically that unemployment was considered income and could file it. Thank you for the info!

My dad's rule of thumb (he's an accountant, but not a tax accountant) is that someone/anyone gave you more than $500 in one year, you MUST claim it on your taxes.

Originally Posted by BuckeyeTriDelta

I'm nervous because this is the first year I will be doing taxes on my own. Last year my dad took mine and had them done along with the family. I think I will take them and have them done as well. I have no idea how to even start with taxes.

If you're not itemizing (or even if you are, depending on what), there are plenty of free tax websites. Unless you make too much to qualify for free. Then I guess you don't really care about having to pay to have your taxes done.