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Retirement tax questions
Yes, it is okay that it shows up under total income. It is not preventing other deductions or otherwise counting "against" you. It may be that your charitable deductions are not counting because your higher standard deduction is better this year or for some other reason.
To check to see if the higher standard deduction is being used, take a look at your tax summary following these steps:
- Login toTurboTax.com.
- Click on Tax Home on the left side of the screen.
- If prompted, click on Continue where I left off or Take me to my return.
- Click on Tax Tools.
- Click on Tools.
- In the box that pops up, click View Tax Summary under Other helpful links.
The standard deductions for 2019 are as follows:
Single filing status/Married Filing Separately: $12,200
Head of Household: $18,350
Married Filing Jointly: $24,400
Additions for over age 65 and blind, per person: $1,300
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March 5, 2020
1:00 PM
8,646 Views