Standard Deduction limitation

Forum|Forum|5 years ago
January 28, 2021
5 replies
14 views

My itemized deductions are $19,500. My standard deduction is $27,400. TurboTax is calculating my return using the lower itemized deductions, indicating it creates a lower taxable income. That makes no sense, so I used the Tax Expert on turbotax. She said the standard deduction has a limitation. I can't find any authority for this. TurboTax, and the IRS.gov website, all say to use the greater of the itemized or standard deduction.

TurboTax Deluxe Online

Critter-3

Level 15

Review what was entered in the MY INFO section ... did you indicate you will be filing separately from your spouse and that they will itemize deductions ? If they itemize you must itemize. Or that your spouse was a dependent of someone else (not you since a spouse can never be the dependent of the other spouse ... you simply file a joint retrun).

xmasbaby0

Level 15

What is your filing status?

Your standard deduction lowers your taxable income. It is not a refund. You will see your standard or itemized deduction amount on line 12 of your 2020 Form 1040.

2020 Standard Deduction Amounts

Single $12,400 (+ $1650 65 or older)

Married Filing Separate $12,400 (+ $1300 if 65 or older)

Married Filing Jointly $24,800 (+ $1300 for each spouse 65 or older)

Head of Household $18,650 (+ $1650 for 65 or older)

https://ttlc.intuit.com/questions/1900142-how-can-i-tell-which-deduction-standard-or-itemized-i-m-using

HOW TO FORCE ITEMIZED DEDUCTIONS

https://ttlc.intuit.com/questions/1900142-how-do-i-change-from-the-standard-deduction-to-itemized-or-vice-versa

PREVIEW 1040

https://ttlc.intuit.com/questions/1901539-how-do-i-preview-my-turbotax-online-return-before-filing

Click on Tax Tools on the left side of the screen. Click on Tools. Click on View Tax Summary. Click on Preview my 1040 on the left side of the screen.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**