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Does unemployment compensation count as part of your Annual Gross Income? (This is related to my other question about writing off getting braces on my taxes)

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Yes, unemployment compensation is considered income and taxed as such. In fact, you have the option of withholding federal taxes form unemployment compensation.

  • This reminds me that I need to figure out the impact of not withholding on my taxes for 2010. Oy. – George Marian Dec 29 '10 at 21:09

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