Seems as if I have enough deductions to itemize yet turbo tax says I should use standard deduction, Which is best?

Forum|Forum|7 years ago
June 1, 2019
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Best answer by TomK2023

The Tax Cuts and Jobs Act of 2017 nearly doubled the standard deduction amount for tax years 2018 through 2025.

In addition, the SALT deduction (state, local, property, and sales tax) is now capped at $10,000 ($5,000 for couples filing separately), whereas in prior tax years there was no cap.

As a result of these and other tax law changes, our estimate is that nearly 90% of tax filers will now be taking the higher standard deduction, up from around 70% last year. And if you're in the 90% group, you won't see a change in your refund after entering your mortgage interest and property taxes.

However, you can enter all your deductions and satisfy for yourself what your best filing option may be. It certainly doesn't hurt to try it both ways.

Please read this TurboTax FAQ for additional information on "How do I change from the standard deduction to itemized (or vice-versa)?": How do I change from the standard deduction to itemized (or vice-versa)?

TomK2023Answer

Alumni - Intuit

The Tax Cuts and Jobs Act of 2017 nearly doubled the standard deduction amount for tax years 2018 through 2025.

In addition, the SALT deduction (state, local, property, and sales tax) is now capped at $10,000 ($5,000 for couples filing separately), whereas in prior tax years there was no cap.

However, you can enter all your deductions and satisfy for yourself what your best filing option may be. It certainly doesn't hurt to try it both ways.

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