@fbmcardl2 wrote:
@Critter-3 Try reading my comment again. You obviously missed the fact that for those who previously filed there are situations that will require amendment even after IRS modifies the return.
The "Rescue Act" specifically says that many retirement calculations are to be done before applying the exclusion to the AGI. The Act lists 7 different calculations that are NOT to be affected by the new AGI but must use the original AGI before the exclusion.
That is why a software update was needed and not just a simply subtraction, because just subtracting it would make 7 other calculations inaccurate.
It is not clear at this point if the savers credit is affected of not.
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
