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Level 2
February 18, 2024
Question

Deduction and credit page doesn't add up to what it says is my total deduction

  • February 18, 2024
  • 1 reply
  • 12 views

I have no idea where they got the total for my deduction.  I should be happy because they have the amount higher than what I calculated but that makes no sense (making me think something may have been entered wrong).  Is there some way to figure out how they arrived at the amount they did?  Even looking at the figures under deductions and credits it doesn't add up.

    1 reply

    DawnC
    Level 15
    February 18, 2024

    The Deductions and Credits summary page will show everything you entered, but your Schedule A should detail the amount of your itemized deductions.     If you are asking about another deduction amount, please let us know.     

     

    Schedule A

     

    Standard Deduction

     

    You get either Schedule A deductions OR the standard deduction - - TurboTax will default to the largest deduction.

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    kk3366CLAuthor
    Level 2
    February 18, 2024

    Nope.  Here's the situation.  I completed a paper copy of Schedule A.  If you add up my allowable tax deductions which max out at 10k, home mortgage interest and charitable contributions it comes to 15,034.  Turbo tax is saying my total deduction is 15,700. Why?  There is no explanation given.  Like I said I should be glad for the higher deduction amount but it doesn't match my paper schedule A.  Something is wrong. 

    VolvoGirl
    Level 15
    February 18, 2024

    $15,700 is the Standard Deduction for Single over 65

     

    For 2023 the standard deduction amounts are:

    Single 13,850 + 1,850 or 65 and over or blind

    HOH 20,800 + 1,850 for 65 and over or blind

    Joint 27,700+ 1,500 for each 65 and over or blind

    Married filing Separate 13,850 + 1,500 for 65 and over or blind