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TurboTax incorrect calculation of line 23 of Schedule H for any filers reside in California, Connecticut, Illinois, New York (credit reduction state).
For anyone who is filing schedule H in California, Connecticut, Illinois, New York in 2022, Turbo tax will not calculate your line 23 correctly because it won't apply the 0.003 factor. This will result in owing tax and risk in audit. there is another post detailing the issue but Turbo tax is not fixing it after it was raised a month ago. Read page 12 of the schedule H instruction here: https://www.irs.gov/pub/irs-pdf/i1040sh.pdf. TT will not apply the change in this worksheet on its online version. The reason, my best guess, is that TT is using a dated list of credit reduction state (which only contain VI in 2020).
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March 11, 2023
11:37 AM