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Get your taxes done using TurboTax
Also, what about the following:
1. passive income of up to $25,000 allowance on line 7 of Form 8582, Passive Activity Loss Limitation - Would the $10,200 credit be excluded in calculating the MAGI on line 7 (So the MAGI would be higher)?
2. the taxable income used to determine the qualified business income deduction on line 11 of Form 8995, QBI Deduction Simplified Computation - Would that include the $10,200 credit?
Thank you.
March 30, 2021
4:15 PM