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bro everyone is having this problem its not just you. uhh i wish there was a post about it SOMEWHERE that they are having issues. but unfortunately they have not, yet.
The latest update in TurboTax should correctly handle the Middle Class Tax Refund (MCTR) payment. You will need to delete and re-enter the form 1099-Misc for the MCTR.
This will automatically exclude this amount from federal income. On the federal tax return, the MCTR payment will reflect as a positive amount, as well as a separate negative amount.
Both the positive and negative amounts will show on line 8z on the Schedule 1. You can see these entries in the forms view for desktop versions or in the online versions by following these steps:
The income will no longer be in the Federal Adjusted Gross Income amount and therefore will not transfer to the CA tax return either.
@DMarkM1 can anyone confirm if the above process works?
It does indeed work
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