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rfische6
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How do I enter an itemized deduction in Schedule A line 16?

 
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How do I enter an itemized deduction in Schedule A line 16?

You would typically enter a Line 16 deduction in the Deductions & Credits section of the program, but you can only deduct the expenses listed in the instructions on that line.

 

See https://www.irs.gov/instructions/i1040sca#idm140545382987696

How do I enter an itemized deduction in Schedule A line 16?

Enter it under Federal Taxes Tab

Deductions and Credits

Then scroll way down to Other Deductions and Credits

 

Do you think you will have enough to itemize this year?  This year the Standard Deduction will be doubling so many people will be switching to the Standard Deduction.  And there is a max 10,000 limit (5,000 MFS) of property tax and state taxes "SALT".  SALT is State And Local Tax.  Which includes property tax, any state tax paid like for last year’s return and includes any state withholding from your W2s and any 1099s you have. And any taxes in W2 box 14 and 19 like SDI or VDI. You can only deduct up to 10,000 (5,000 MFS) for SALT State and Local Taxes.

 

And you can only deduct Medical that’s over 7.5% of your AGI.  Also the deduction for job expenses have been suspended.

 

FAQ on 2018 changes https://ttlc.intuit.com/questions/4482394-how-will-tax-reform-affect-my-2018-federal-tax-return

 

For 2018 the standard deduction amounts are:

Single 12,000 + 1,600 for 65 and over or blind

HOH 18,000 + 1,600 for 65 and over or blind

Joint 24,000+ 1,300 for each 65 and over or blind

Married filing Separate 12,000 + 1,300 for 65 and over or blind

 

And Deductions for job expenses have been suspended with the new tax act.  See Deductions that have been suspended for 2018

https://ttlc.intuit.com/questions/4482873-which-federal-tax-deductions-have-been-suspended-by-tax-re...

 

 

 

How do I enter an itemized deduction in Schedule A line 16?

The following are the expenses you can deduct on Line 16 (if it's not in the list, it's not deductible on Line 16:

 

  • Gambling losses (gambling losses include, but aren't limited to, the cost of non-winning bingo, lottery, and raffle tickets), but only to the extent of gambling winnings reported on Schedule 1 (Form 1040), line 21.

  • Casualty and theft losses of income-producing property from Form 4684, lines 32 and 38b, or Form 4797, line 18a.

  • Loss from other activities from Schedule K-1 (Form 1065-B), box 2.

  • Federal estate tax on income in respect of a decedent.

  • A deduction for amortizable bond premium (for example, a deduction allowed for a bond premium carryforward or a deduction for amortizable bond premium on bonds acquired before October 23, 1986).

  • An ordinary loss attributable to a contingent payment debt instrument or an inflation-indexed debt instrument (for example, a Treasury Inflation-Protected Security).

  • Deduction for repayment of amounts under a claim of right if over $3,000. See Pub. 525 for details.

  • Certain unrecovered investment in a pension.

  • Impairment-related work expenses of a disabled person.

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