1040-IN: Unemployment compensation deductions

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IRS filing deadline update

The IRS MeF system is now processing returns, and the filing deadline has been extended to 11:59 PM on Wednesday, April 18, 2018. For the latest details, see UltraTax CS alerts and notices.

Overview

Indiana allows deductions on Schedule 2 or Schedule C for certain unemployment compensation included in federal AGI.

Non-Railroad Unemployment

UltraTax CS calculates the Indiana Unemployment Compensation Worksheet for Unemployment compensation received entered on federal Screen Income, in the Income folder, that does not have State Use code 2. The allowable deduction calculated by the worksheet is reported as Nontaxable portion of unemployment compensation on Schedule 2 or Schedule C.

Railroad Unemployment

The full amount of Unemployment compensation received entered on federal Screen Income with IN postal code and State Use code 2 (Railroad Unemployment) is reported as a code 624 deduction on Schedule 2 or Schedule C.

Related topic: 1040 Indiana frequently asked questions

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