Question

South Carolina Military Retirement Income Deduction Error for 2020 Taxes

Forum|Forum|5 years ago
January 7, 2021
1 reply
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Hello,

I was completing my taxes online and noticed an error for the 2020 Taxes dealing with military retirement income. The South Carolina tax code increased the deduction this year to $17,500 for those under 65 years old but Turbotax is only giving $14,600. To qualify for the deduction you must have taxable income equal or greater than the deducible amount. Meaning you have to be working and earning taxable income to qualify. Please correct the error as it prevents the proper filling of taxes for the state of South Carolina.

TurboTax Self Employed Online

SteamTrain

Employee

Most SC forms are not expected to be ready until after 14 January...so check back on the 15th....thus, they probably know about it, but it just may not be implemented yet. (And a valid printable copy of SC taxes, is not expected to be available until after 21 Jan...)

____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*