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Deductions & credits
Please keep in mind the SALT( state and local property taxes) limitation set by the Tax Reform Act. Although your Withholding and property taxes may exceed $10,000, you lose the excess over $10,000. Under that limitation, you cannot deduct more than $10,000 for SALT payments on your 2019 Form 1040.
We automatically select the deduction that gives you the best outcome on your federal taxes. Most 2019 federal tax filers will be better off with the standard deduction versus the itemized deduction. In TurboTax, you can always switch to a different deduction.
- With your tax return open, select Federal from the navigation menu on the left (if you're doing this on a mobile device, you'll probably need to scroll down).
- Now select Deductions & Credits near the top of your screen.
- Proceed through the screens, answering questions as necessary. Eventually you'll come to the screen Based on what you just told us, the Standard Deduction is best for you or Based on what you just told us, itemizing deductions is best for you.
- On that screen, pictured below, select Change my deduction. You'll get a pop-up showing how much each deduction is worth.
- From here, you can either change your deduction by selecting it and continuing forward or cancel out.
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‎February 10, 2020
2:00 PM