Deductions & credits

Are all your deductions more than the standard deduction? Turbo Tax starts out by giving you the Standard Deduction so you won't see a change until your itemized deductions go over.


For 2021 the standard deduction amounts are:

Single 12,550 + 1,700 for 65 and over or blind (14,250)

HOH 18,800 + 1,700 for 65 and over or blind (20,500)

Joint 25,100 + 1,350 for each 65 and over or blind (26,450/27,800)

Married filing Separate 12,550 + 1,350 for 65 and over or blind (13,900)

 

And if you take the Standard Deduction you can also deduct up to 300/600 for charity on 1040 line 12b. So the Standard Deduction + 300/600 might be more than your deductions.

 

If you are using the Desktop program you can switch to Forms Mode and open schedule A to see the total.