Federal Balance due is 1790. How come the sales tax of $4000 from the purchase of a newer vehicle is not being applied to our balance due?

samanthachristin — Thu, 06 Jun 2019 09:14:53 GMT

STANDARD DEDUCTION Your itemized deductions have to be mo...

xmasbaby0 — Thu, 06 Jun 2019 09:14:55 GMT

STANDARD DEDUCTION

Your itemized deductions have to be more than your standard deduction before you will see a change in your tax owed or tax refund. The deductions you enter do not necessarily count “dollar for dollar;” many of them are subject to meeting tough thresholds—medical expenses, job-related expenses, casualty and theft losses, for example, must meet thresholds that are pretty hard to reach. The software program uses all the IRS rules that apply to the expenses you enter, and it tells you if you have enough to use your itemized deductions or if using the standard deduction is more advantageous for you. Here are the Standard Deductions for 2017

Your standard deduction lowers your taxable income. It is not a refund

2017 Standard Deductions

Single $6350 (65 or older + $1550)

Married Filing Separately $6350 (65 or older + $1250)

Married Filing Jointly $12,700 (65 or older + $1250@)

Head of Household $9350 (65 or older + $1550)

Thank you! I understand now.

samanthachristin — Thu, 06 Jun 2019 09:14:56 GMT

Thank you! I understand now.

You are welcome.

xmasbaby0 — Thu, 06 Jun 2019 09:14:57 GMT

You are welcome.

topic Federal Balance due is 1790. How come the sales tax of $4000 from the purchase of a newer vehicle is not being applied to our balance due? in Get your taxes done using TurboTax

Federal Balance due is 1790. How come the sales tax of $4000 from the purchase of a newer vehicle is not being applied to our balance due?

STANDARD DEDUCTION Your itemized deductions have to be mo...

Thank you! I understand now.

You are welcome.