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Deductions & credits
Thanks for the update. I have not filed yet pending the resultant TurboTax update which will happen in the next week or two I hoe. There are many that will have to amend and Turbo tax should send them a communication to do that if they do not know. Please send a reply to the community to this email chain when turbo tax has the software corrected for this change. Also there is a software glitch when entering 1099-NEC data in sch C where the state income $ box is not there. 35 other folks have mentioned it and it still is not fixed. TurboTax should fix that also. After reading the IRS instructions, I am happy that the credit is added to line 8 as a negative so it is before the adjusted income total.
March 15, 2021
6:09 PM
3,710 Views