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To review your total itemized deductions:
The total deductions at the end of the deductions and credits equals $27,740 for 2020. It says "You're getting the standard deduction of $27,400.
When I click "continue" it says "Based on what you've told us, we've chosen the standard deduction for you. This deduction of $27,700 will save you the most money."
If I add the deductions for Mortgage $8169, Prop tax $184, Donations to Charity $7608, Medical Expenses $14,135 I get $30096.
Not calculating properly?
@Trappfarm2 wrote:
The total deductions at the end of the deductions and credits equals $27,740 for 2020. It says "You're getting the standard deduction of $27,400.
When I click "continue" it says "Based on what you've told us, we've chosen the standard deduction for you. This deduction of $27,700 will save you the most money."
If I add the deductions for Mortgage $8169, Prop tax $184, Donations to Charity $7608, Medical Expenses $14,135 I get $30096.
Not calculating properly?
The Medical expense deduction is reduced by 7.5% or your Adjusted Gross Income. The AGI is on the Form 1040 Line 11. Multiply the AGI by 7.5% and subtract that amount from your total medical expenses to arrive and the Medical Expense itemized deduction.
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