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Get your taxes done using TurboTax
@Rbjcc24 Got it, you make a good point! It's weird that the bill itself doesn't say "modified" but the IRS guidance does. The bill does have this section:
“(2) APPLICATION.—For purposes of paragraph (1), the adjusted gross income of the taxpayer shall be determined—
“(A) after application of sections 86, 135, 137, 219, 221, 222, and 469, and
“(B) without regard to this section.”.
And then a bunch of conforming amendments mentioning each section of the tax code. I'm sure that's the complicated stuff TurboTax has to incorporate into their software, but I wonder if that's what's the "modified" in the IRS guidance is referring to.
March 16, 2021
10:44 AM