Tax question/CPA's in here..

[Juiced4v]

My buddy was on Unemployment for all of last year...he said he was getting about $850 check every two weeks...any-how is back to work as of last week. Does he have to file his taxes for last year? Will he end up owning money? Anyone came across this before?

Thanks in advance...

[Gtracer]

If your buddy elected to receive the unemployment money pre-tax, then yes, he will pay taxes on it. If he elected to receive his funds post tax, then he will need to report the income on his return but he will not pay taxes on that money.

I was unemployed, did not get enough post tax so I opted for pre-tax. Well, it helped but I also had to pay a little back last year, which is the first time I have ever owed money
<---not a baller

[quikag]

Yes, it's taxable. He should get a 1099 or something to that effect. He will need to file a return and report that income. Depending on his deductions, etc., he will likely owe at least a little tax on that income.

[Juiced4v]

Thanks Guys...I knew someone here would have the answer!...I will let him know.