rjs
Level 15
Level 15

Tax law changes


@MiamiVice99 wrote:

Was the $6,000 temporary bonus automatically entered in Turbo Tax program


@MiamiVice99 

Are you referring to the deduction for seniors? TurboTax automatically enters it in your tax return, based on the birth date that you entered in your personal information. The maximum deduction is $6,000. It may be reduced or eliminated based on your Modified Adjusted Gross Income (MAGI), as calculated in Part I of Schedule 1-A.