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March 4, 2021
Question

Michigan- subtractions from income

  • March 4, 2021
  • 1 reply
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Under Michigan taxes, last year I calculated the % of US Govt Obligations on my total ordinary dividends.   This year, after importing my 1099-DIV, which included ordinary dividends, I didn't get asked to make this subtraction from my income.  Did that rule change?

    1 reply

    March 10, 2021

    Yes, there is still a subtraction from Michigan income for U.S. Government bonds and other U.S. Obligations included in MI-1040 line 10.

     

    This subtraction carries to the MI Schedule 1 line 10.

     

    Please go back and review both the federal dividends and interest income section and then the MI subtractions section of the TurboTax software.