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Deductions & credits
Thank you for the detailed reply.
Our household income in 2021 did not change significantly as compared to 2020.
This is what I originally found when researching this in the Turbo Tax Premier 2021 "help" within the application:
What are the limits of these credits?
Your income matters. These credits are reduced by $50 for every $1,000 that your adjusted gross income (AGI) goes over these amounts:
- Single, Married Filing Separately, Head of Household, or Qualifying Widow(er) - $200,000
- Married filing jointly - $400,000
That is the reason I thought I could change it, because the help clearly lists that the reduction occurs once AGI exceeds 400k for married filing jointly, which is my situation. Is the help/documentation incorrect?
March 14, 2022
6:31 AM