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In MN property tax, form M1PR, if you did a Trad. IRA contribution, it is added in twice. On line 3 & line 5. So, a $7500 IRA contribution adds $15,000 to my income
This is obviously a bug, but I can't figure out a way to report it to Intuit. When calculating the income to base MN property tax refunds on, it adds in the IRA contribution on line 3 and again on line 5 (thru Schedule M1PR-A1). So, if I do a $7500 Traditional IRA contribution, it adds $15,000 to my income. Later on, it does subtract out most, if not all of one of these (line 9 subtracts up to $6500 for a "Retirement Account Subtraction").
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March 16, 2024
3:50 PM