Circuit Breaker Calculation

Message from John Woods, State Coordinator:

While TaxSlayer has mostly fixed the Circuit Breaker AGI issue, we have just noted that another error was introduced. Specifically, if the taxpayer has a rollover distribution from a retirement account, TaxSlayer includes the gross distribution in the Circuit Breaker income calculation.  This is incorrect and the software should recognize the rollover.  We are in contact with TaxSlayer to get this fixed.

In the meantime, look for it.  If you see the problem, you can subtract the corresponding amount off by entering a negative number in the miscellaneous income line at the bottom of the Circuit Breaker screen.  But be cautious as some day TaxSlayer will fix this – so check that the problem still exists before you put the offset in.

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