So I have a few rentals and I itemize everything on those with the total that exceeded 10k. Now this is strictly rentals and not personal I do everything under one umbrella so there is no LLC or anything like that.
I just use the Rental Turbo Tax version of the product.
On paper I have surpassed the itemized deduction but that is all with the rentals not personal.
Can I also take standard deduction even though the rentals exceeded the itemized 10k?
What I am trying to do is take the standard deduction or try to deduct my personal home taxes. (not sure if this is ok or not and hence why I am here ) Right now it says that I have reached the limit but that includes my rentals. I have not input any of my personal taxes in.
While filling out the turbo tax it said "You've maxed out the federal $10,000 deduction for itemized state and local taxes."
