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Returning Member
posted Jun 1, 2019 5:16:32 PM

Does TurboTax not credit you with $6000 deduct on qualified IRAs on Arkansas state tax form AR1000F?

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3 Replies
Level 15
Jun 1, 2019 5:16:33 PM

You received an IRA distribution?

Level 15
Jun 1, 2019 5:16:35 PM
New Member
Feb 14, 2024 2:22:18 PM

I had a problem getting TurboTax to deduct $6000 from my 2023 IRA distribution. It turns out I made a mistake in my set-up. I claimed the "over 65 special" tax credit in addition to the "over 65" tax credit. On that page there is a note that says you do not qualify for the $6000 deduction from your IRA distribution if you select the "over 65 special" tax credit.

 

Two suggestions to the TurboTax team:

• the "do not qualify for the deduction warning" is printed in the smallest type imaginable. I would have had a better chance noticing the warning if the comment would have been at least the same type size as the rest of the text on the page – bolded and in red would have been even better

• in the program that checks a return for lowest tax owed, adding a routine that checks Arkansas returns for "over 65 special" tax credit and an IRA distributions would help anybody else avoid this problem in the future