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TT taking Standard deduction even through itemized deductions are greater
Hi all, I have seen this question being asked a few different ways but I am not convinced by the answers thus far. My itemized deductions are generally higher than std deduction; I took itemized last year and the prior years as well. However, this year whatever I do I am still getting only the std deduction. I understand the 2017 Tax act, etc. However, this should have applied even last year - why only this year? Another change that has of course happened is my AGI has increased compared to last year. Could this be the reason that I am hitting some limit I am unaware of that prevents me from itemizing my deductions? I feel there is more to this than meets the eye, and I am hoping Turbo Tax is doing the right calculations behind the scenes. What are other factors that decide if the standard deduction applies even though my itemized deductions are higher?