I'm filing my MA state return and I claim the renters deductible. Per the 2023 MA Form 1 instructions the deductible is $4000.00 but TurboTax is only showing $3000.00. ??
I'm filing my MA state return and I claim the renters deductible. Per the 2023 MA Form 1 instructions the deductible is $4000.00 but TurboTax is only showing $3000.00. ??
No hurry to e-file since the IRS will not begin to accept/reject 2023 e-files until January 29. And….a state return cannot be accepted until after the IRS accepts your federal return.
**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
Renters may claim a credit in the amount by which 25% of their annual rental payment is more than 10% of their total income. You may have a limit on the renter's credit due to income or the rent paid. Please take a look at your Schedule CB to determine the issue.