Are you just calculating the difference between your "usual" amount of itemized deductions and the new standard deduction and thinking that is what you will owe? It does not work that way. If you have more itemized deductions than that standard deduction of $24,000 for a joint return then those deductions can still affect your tax refund or amount owed. The big difference is that with such a large standard deduction, many people who used to be able to itemize will no longer have enough itemized deductions like mortgage interest, property taxes, medical expenses, etc. to exceed the standard deduction.
**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.**
