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Deductions & credits
Use the TurboTax calculator TaxCaster as it has the 2018 tax code in the application - https://turbotax.intuit.com/tax-tools/calculators/taxcaster/
Note that based on your filing status your Total Itemized Deductions must be greater than the Standard Deduction to have any tax benefit.
Standard deductions for 2018
- Single - $12,000 add $1,600 if age 65 or older
- Married Filing Separately - $12,000 add $1,300 if age 65 or older
- Married Filing Jointly - $24,000 add $1,300 for each spouse age 65 or older
- Head of Household - $18,000 add $1,600 if age 65 or older
‎June 3, 2019
12:01 PM