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I am married with 1 child. why when i add my deductions such as mortgage interes and real estate tax the standard decuction gets higher then 24000.
why does the standard deduction go up when my expensive are higher then 24000.?
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June 3, 2019
11:59 AM
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Get your taxes done using TurboTax
If you are adding expenses and seeing the number increase above $24,000, the program switched you from Standard Deduction to Itemized Deduction. You can claim one or the other, not both, but they are both reported on line 8 on your tax return.
The Standard Deduction will not increase when you add Real Estate Taxes or Mortgage Interest, but your Itemized Deductions will.
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June 3, 2019
11:59 AM