Does anyone know how to fill out this AL FIT Wkst

[tkrabbe17]

I know Alabama just passed this new tax relief

[HelenC12]

Please clarify.

•  Is the Alabama Federal Income Tax (FIT) worksheet that you're referring to on your individual income tax return Form 1040 or is it a business form (1120, 1120-S or 1065)?

[peepawl189]

indiv. 1040

[ahmandy2]

Yes.  ALDOR has a spreadsheet that shows how to calculations are to be done.
revenue.alabama.gov/arpa-tax-relief/

Here's the direct link to the spreadsheet:
revenue.alabama.gov/wp-content/uploads/2022/03/Federal_Income_Tax_Deduction_Spreadsheet_V1.2.xlsm

Note: Turbotax (desktop) updated the calculations for this worksheet in the last couple days and I think it contains an error on Part II Line 3.  Per the ALDOR site above, Part II Line 3 (Child Tax Credit) is an unchangeable field with a zero value.  TT is trying to pull an amount.  I've verified with ALDOR that Part II Line 3 should be zero.  I ended up doing an override to change it back to zero so I could finish my taxes.

 

peepawl189 Hope this helps.

[rwminor]

How do you do an override? I can't change anything.

[ahmandy2]

@rwminor In TT, using the forms view (upper right corner) you can right-click in the field you want to adjust and you will see the override option about half-way down.  I should allow the change and will then show the field entry in red indicating the override.  Be *very* careful about overrides in general, and it may call your attention to them during review to verify your intent.  I have not ever had to do them on federal return, just on AL this year and last.  (Last year was regarding taxability of 529 rollover.)