Skip to main content

2 replies

macuser_22
Alumni - Champ
Alumni - Champ
June 7, 2020

What bug?   Many bugs are known and have already been reported.

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
Level 5
January 7, 2021

Two bugs I have found today?

 

1) For 2020, the long-term care premium limit that can be deducted for someone age 71 or older is $5430, but TurboTax is only deducting $5270, last year's limit.

 

2) TurboTax tells me that I will be taking Itemized Deductions rather than the Standard Deduction because Itemized Deductions are higher, and it correctly shows me the two amounts. But when I look at Form 1040, I see that TurboTax has taken the Standard Deduction. Actually, that give me a better result when I get a charitable contribution deduction in addition. But telling me that one thing is happening, then doing another, is very sloppy and confusing.

macuser_22
Alumni - Champ
Alumni - Champ
January 7, 2021

Many items are not complete yet.   The IRS still has not released the final version of the 1040 form yet - it is still being drafted by the IRS due to late tax law changes.  There will be many updates in the coming weeks.

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
June 7, 2020

and many other "bugs" are really errors in taxpayer input.