I'm happily surprised. At least I think I am!
Earlier in the year my understanding was that New York, unlike the federal government, was not going to allow the first $2,400 of unemployment benefits to be tax free and was going to tax me on the entire amount of the unemployment benefits I received.
(that makes so much sense... give it to me with one hand and take it away with the other!)
Anyway... now that I have seen the form and instructions for the 2009 New York income taxes, it appears that NY *WILL* exempt the first $2,400 of unemployment benefits from taxes just like the federal income taxes did for 2009.
I see no place on the tax form to add the $2,400 back in for New York taxes and no mention of it in the list of potential additions. So I assume they are allowing it.
So, what I am trying to figure out is: Am I happy or not?!
Is this right, or did NY make some kind of mistake on their forms and forget to put that on there?
Sure looks good!
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