BillM223
Expert Alumni

Deductions & credits

mtiede,

 

"But where did TurboTax get the $27,400 instead of $24,800?"

 

$24,800 was the Standard Deduction in tax year 2020. $27,400 is the Standard Deduction for tax year 2020, if both taxpayers are over age 65.

 

So if you got $27,400 as the deduction in 2020, then you did get the Standard Deduction.

 

@mtiede

 

 

Tee221,

 

Line 46 is the income tax for the state of New York. Line 58 is the income tax for the City of New York (and Yonkers). Yes, the City has an income tax also (there are a few cities around the country that do this).

 

The state of New York collects the NYC income tax on the state return, and presumably passes it along to the City.

 

The biggest issue I see with the NYC tax is that too many taxpayers don't have their employer withhold for the City in addition to the State, which leaves to large tax due at tax time. 

 

@Tee221

 

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