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Deductions & credits
Thanks for your quick response, but i have been hindered by family medical issues to respond. You asked how i could tell what amount TT is using for itemized deductions.
Using TT Deluxe 2022 on line, once i put in the deductions (tax break page) it shows the total of deductions and shows that the Standard Deduction is more than my itemized deductions. Underneath that graphic is a link that says: Show me the estimated breakdown.
When i click on this it shows the amount for each of the four categories including only $410 for charity even though my contributions to IRS-approved organizations were $8,725, . Since my entered income is $62,659 I why am i not getting a minimum of $31,329 charitable deductions? My other itemized deductions are $27,000 so the $8,725 charitable contributions should put me over the standardized deduction.
Thanks for your thoughts.
‎January 9, 2023
3:06 PM