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It is Arpil 10th and I still have not received a schedule K-1 tax form I have been told is coming. I have completed everything else for filing my taxes and, so far, have a refund over $3000. Should I file for an extension?   Thanks for any help/advice!   Sharon

In 2025, Illinois instructions say to include partner retirement payments listed on the K-1-P as a deduction on Schedule M of the Illinois 1040, instead of line 5 on the IL-1040.  However, TurboTax software does not do that but instead puts the retired partner pension payments on Line 5. Why?????

I know this had been reported before, but Turbotax clearly has no desire to fix this Here is another example.   Background: Using Turbotax Online This is an ammedended return as the new car interest deduction was not part of the initial questionaire and I forgot to add it.   My findings: Like for many, the deduction is not calculating properly.  So I played with my numbers and found the issue. 1) My Adjusted gross income is $112,700 Single 2) My actual interest was just $508 and Turbo tax said $0 interest deduction on this amount (WRONG!) 3) So I moved my interest up to to $2,601 and it said $1 interest deduction.  4) I also moved my interest up to $12,000 and it said a $7,400 interest deduction.   So what does this tell us:  As my income is $12,700 over the $100,000 limit for the full $10,000 deduction, the max deduction should be lowered by $2,600 or $200 for every $1,000 over the limit,  ($200 * 13). This would mean my maximum deduction is $7,400 ($10,000-$2,600). When I enter an obscenly high interest amount, Turbo tax gets the top end correct as they cap my deduction at $7,400   But on the low end, they are also deducting the amount for the deduction itself.  Thus if I say my interest was $2,601, I end up with a $1 deduction.    Turbotax needs to fix this ASAP.  I tried to use online chat but the person had no answer for this.