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For the first time in 20+ of using Turbo tax... the program has selected Standard Deduction for my wife and I (Married Filing Jointly)
For the first time in 20+ of using Turbo tax... the program has selected Standard Deduction for my wife and I (Married Filing Jointly). We have one dependent. This has caused about $20K in lost deductions. Not sure why this is happening. Also, when I was entering Charitable deductions in prior years the Amount Owed would go down with each entry. This year, when I enter them, the Amount Owed stays the same and when I hit end, it states the Standard Deduction is better for us.
Can anyone offer advice? Thank you!
March 31, 2021
12:55 PM