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changman
New Member

Since Illinois increased their state income tax rate as of 7/1/17, can we file a Schedule SA to take advantage of the Method 2 - Specific Accounting Method on TurboTax?

 
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SteamTrain
Level 15

Since Illinois increased their state income tax rate as of 7/1/17, can we file a Schedule SA to take advantage of the Method 2 - Specific Accounting Method on TurboTax?

I have a definitive response from the Developers just today.

_______________________________________

The IL-1040 Schedule SA will not be  supported by TTX for for 2017 IL taxes.

Thus, if you really want to use it, you will have to manually do it on paper forms, and mail in your IL forms .

Thus only the default blended tax calculation will be used by the  TTX software.

(Or check with other software providers)


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

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4 Replies
tim-crawford
New Member

Since Illinois increased their state income tax rate as of 7/1/17, can we file a Schedule SA to take advantage of the Method 2 - Specific Accounting Method on TurboTax?

How do you square this answer with your "lowest tax" guarantee?
tim-crawford
New Member

Since Illinois increased their state income tax rate as of 7/1/17, can we file a Schedule SA to take advantage of the Method 2 - Specific Accounting Method on TurboTax?

How do you square this answer with your "maximum refund" guarantee?
SteamTrain
Level 15

Since Illinois increased their state income tax rate as of 7/1/17, can we file a Schedule SA to take advantage of the Method 2 - Specific Accounting Method on TurboTax?

"We" don't.  We are mostly other users in this public forum, not TurboTax staff.

I would guess that this was a business decision as to whether to put in the software effort for a complex one-time form.

Here's the details on the money back guarantee if the other method would have given you a larger refund..

<a rel="nofollow" target="_blank" href="https://ttlc.intuit.com/questions/1908546-what-is-your-maximum-refund-or-tax-savings-guarantee-or-yo...>

____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*
SteamTrain
Level 15

Since Illinois increased their state income tax rate as of 7/1/17, can we file a Schedule SA to take advantage of the Method 2 - Specific Accounting Method on TurboTax?

I have a definitive response from the Developers just today.

_______________________________________

The IL-1040 Schedule SA will not be  supported by TTX for for 2017 IL taxes.

Thus, if you really want to use it, you will have to manually do it on paper forms, and mail in your IL forms .

Thus only the default blended tax calculation will be used by the  TTX software.

(Or check with other software providers)


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