Unemployment Tax Relief FAQs
FAQs for the American Rescue Plan Act of 2021
Yes, Missouri will follow the American Rescue Plan Act of 2021 for the exclusion of up to $10,200 of unemployment compensation. Only those individuals that had a federal adjusted gross income of less than $150,000 qualify for the exclusion on their federal return. The same income threshold applies on the Missouri return.
If you previously filed your Missouri 2020 return and reported unemployment income that may now be excluded from your federal adjusted gross income, you must file an amended Missouri return to reflect the reduction to your federal adjusted gross income.
Yes, you must include all income received from unemployment compensation on your Property Tax Credit Claim. See instructions below.
- Form MO-PTS
- Include the taxable portion of unemployment compensation on MO-PTS, Line 1; since it is included in the Missouri Adjusted Gross Income (MO-PTS, Line 1).
- Report the exempt portion of unemployment income, not already included in MO-PTS, Line 1, on MO-PTS, Line 3.
- Form MO-PTC
- Report the total unemployment compensation received on MO-PTC, Line 2.
If you still have questions, please check out other Personal Tax FAQs.