Legal Question in Tax Law in California

Government payments 1099G

Could you tell me how I should report in my 1040 the benefits that I paid back to EDD in 2004?

My wife received some Unemployment benefit n yr2004 (about $5000), and I had to pay back $900. Could I just report the difference ($4100) in line 19 of 1040? This would reduce my taxable income.

Alternatively, would it be safer to file an amendment 1040X for yr 2003 for the $900? The problem with that is my 1099G that shows the $900 ''Prior Year Benefits Repaid'' is for yr2004. How should I report that?

If you need more info, feel free to ask in your reply. Thanks.


Asked on 3/28/05, 3:51 pm

1 Answer from Attorneys
Gregory Broiles Legacy Planning Law Group

Re: Government payments 1099G

If you received and repaid the unemployment benefits in the same tax year, you can report the net amount on your 1040.

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Answered on 3/28/05, 4:56 pm


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