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Should we file federal taxes using the standard deduction since after putting all of our deductions in there was no change in the amount we would owe?
Our standard deduction would be $26,600 because we were both born before the Jan 2 1954 date.
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Should we file federal taxes using the standard deduction since after putting all of our deductions in there was no change in the amount we would owe?
TurboTax will automatically apply the Standard Deduction if it brings you a larger tax benefit. If you would like to switch over to Itemized Deductions and see how it impacts your return, you can do so by taking the following steps:
1.) In the search bar in the upper right-hand corner, type itemized deductions, choosing
2.) Click on the Jump To link to go directly to the page
3.) Check the box that says Change My Deduction
You can change back to the Standard Deduction by taking the same steps, should you change your mind.
If you are using the desktop version of TurboTax, you can also view your Schedule A to see the total of your deductions that have been entered into TurboTax. Certain deductions have limitations, which TurboTax calculates automatically for you. You can do this by clicking Forms in the upper right-hand corner, clicking Open Form on the left-hand side, and typing Schedule A into the search bar.
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