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posted Feb 3, 2021 11:16:04 PM

California state "limitation on business losses" is messing with my AGI. how can i adjust it so i can get the earned income?

my AGI should be -$24,000 but this new section for limitation business losses is making it $493,000.

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1 Replies
Level 8
Feb 4, 2021 3:35:07 PM

CA forms have not yet been finalized and hence this is occurring. The IRS has stated that they will begin accepting returns for processing on the 12th of February and most States have said they will do their best to follow suit. 

 

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