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Get your taxes done using TurboTax
Correct. It is allowable to calculate the total income for 2020 by 280/366 to determine this value, even though that may not be exactly how it was received.
What I meant to say is: In TurboTax Online,
- Run the Review, but expect to have the error unresolved still.
- Enter the partial period income as described above
- Finish the Review (Run the Review again if you want to confirm the resolution).
- This action should resolve the issue, and it will not defer any tax since it ends up you aren't eligible.
- File your return!
ā€ˇFebruary 10, 2021
9:51 AM