I am doing my Michigan taxes. My wife and I are 70 and retired and receive pension income. According to the Michigan tax book, we can take a standard deduction of $40,000, which Turbo Tax is showing. Turbo Tax is also showing a pension deduction of $30,759 (which is the maximum for 2023 taxes).
According to the Michigan Tax booklet, we can take only the maximum of the standard deduction OR the pension deduction ... but Turbo Tax is taking both.
Is anyone else having this issue? Am I missing something? The way the Michigan tax booklet is worded I am concerned that the pension deduction is wrong and I will end up owing over $1,200 plus interest and penalties.