no

phil_s_stein — Sat, 22 Feb 2020 16:59:31 GMT

editing, since TT doesn't allow deleting.

Re: TT shows my standard deduction @ 12,200 and my itemized @ 18,800 and saying the itemized deduction is less. The numbers literally show the opposite. Why does TT say this?

xmasbaby0 — Sat, 25 Jan 2020 21:42:06 GMT

Are you making the common mistake of adding up all the deductions without considering the caps and thresholds that must be met?

STANDARD DEDUCTION

Many taxpayers are surprised because their itemized deductions are not having the same effect as they did on past tax returns. The new higher standard deduction and the elimination of certain deductions, as well as the cap on state and local taxes have had a major impact since the new tax laws went into effect beginning with 2018 returns.

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, for example, must meet a threshold that is 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. Under the new tax laws, some deductions have been capped—there is a $10,000 limit to the itemized deductions for state, local, property and sales taxes.

2019 Standard Deduction Amounts

Single $12,200 (+ $1650 65 or older)

Married Filing Separate $12,200 (+ $1300 if 65 or older)

Married Filing Jointly $24,400 (+ $1300 for each spouse 65 or older)

Head of Household $18,350 (+ $1650 for 65 or older)

Re: TT shows my standard deduction @ 12,200 and my itemized @ 18,800 and saying the itemized deduction is less. The numbers literally show the opposite. Why does TT say this?

phil_s_stein — Sat, 22 Feb 2020 17:06:09 GMT

Deleted since TT doesn't allow me to delete this account. **bleep** TT.

topic no in Get your taxes done using TurboTax

no

Re: TT shows my standard deduction @ 12,200 and my itemized @ 18,800 and saying the itemized deduction is less. The numbers literally show the opposite. Why does TT say this?

Re: TT shows my standard deduction @ 12,200 and my itemized @ 18,800 and saying the itemized deduction is less. The numbers literally show the opposite. Why does TT say this?