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whateverlola
Returning Member

When will Turbotax update the program with the new SALT tax limit of $80,000?

 
7 Replies
VolvoGirl
Level 15

When will Turbotax update the program with the new SALT tax limit of $80,000?

When did that go into effect?  If it's not for 2021 returns then it won't be until the 2022 program comes out in Nov & Dec unless it's later.

whateverlola
Returning Member

When will Turbotax update the program with the new SALT tax limit of $80,000?

It just got passed recently in one of the bills that Biden and dems promoted.  It IS retroactive to 2021, so I have been delaying filing my 2021 taxes until Turbotax does the update.

SteamTrain
Level 15

When will Turbotax update the program with the new SALT tax limit of $80,000?

Everything I've read indicated it was left out of the final reconciliation bill that did pass.   So I think the $10K limit remains for the next few years....or until there is a sufficient change in Senate/House makeup to include more folks who support the increase.

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____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*
whateverlola
Returning Member

When will Turbotax update the program with the new SALT tax limit of $80,000?

Well, shoot. More research for me.  That is a huge bummer.  Thanks.

VolvoGirl
Level 15

When will Turbotax update the program with the new SALT tax limit of $80,000?

whateverlola
Returning Member

When will Turbotax update the program with the new SALT tax limit of $80,000?

Yeah, I get that now.  Stopped paying attention before the final update of the law.  BOO Joe Manchin!!!

TomD8
Level 15

When will Turbotax update the program with the new SALT tax limit of $80,000?

The SALT cap will end after 2025, unless Congress extends it.

**Answers are correct to the best of my ability but do not constitute tax or legal advice.
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