I spent 2 1/2 hours on the phone with a customer service representative from TT on Monday. She sent a follow up email with a "fix" that doesn't work. I have lost all faith in Intuit and TurboTax that they know what they are doing. They need to hire tax professionals who know how to read tax laws. I agree with the prior comment regarding this problem. If it's always been this way and we've filed out taxes incorrectly, they have created a massive tax liability for anyone who reported retirement income with the code2. I wonder how they are going to get out of paying our penalties since they guarantee their product?
I've tried to get a refund for the 2020 software but so far no luck. Either fix the problem or give us our money back so we can go to another tax program that actually calculates our taxes correctly.
I called TT after I posted this and went through the same thing as on Monday. No help and this is the email response I got:
Mississippi does not consider early distributions Retirement income. As a result it is treated as taxable. I am unable to find out if they have any exclusions or exceptions, i.e. COVID related. I would suggest calling the MS Department of Revenue.
Thank for calling TurboTax
Steve, CPA
They don't seem to care that Mississippi has always considered it retirement income in the past or else their software has always been faulty until now.
