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How do I know how my deduction on line 41 of federal form was arrived at? It shows a $7900 amount. I am single and over 65. Is it a standard deduction?
TurboTax did not send me Schedule A. Does this mean it was not needed after tax computed?
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June 5, 2019
2:54 PM
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Deductions & credits
Yes - Actually the amount on line 40 would be your itemized or standard deduction. If you are single and over 65 the amount of standard deduction would be $7,900 so that is your standard deduction.
TurboTax will automatically take the higher of your itemized or standard deduction.
June 5, 2019
2:54 PM