topic Wouldn't taking the standard deduction of $12,000 have been better than itemizing which was $11,625. It was close but wouldn't I have gotten $375 more money back? in After you file

Wouldn't taking the standard deduction of $12,000 have been better than itemizing which was $11,625. It was close but wouldn't I have gotten $375 more money back?

georgiacrook — Thu, 06 Jun 2019 09:04:53 GMT

No, you don't get back the exact amount of a deduction, y...

Anita01 — Thu, 06 Jun 2019 09:04:55 GMT

No, you don't get back the exact amount of a deduction, you owe less tax based on how much tax you would have paid on that amount of income. For a deduction of $375, at a 10% tax rate, you might have gotten back $37.50 more or owed that much less. I am sure, though, that your standard deduction was HIGHER than your itemized. Itemized deductions can be subject to a subtraction of a certain percentage of your AGI. Your standard deduction may also have increased due to your age.

Sounds like they got the itemized deductions instead of t...

VolvoGirl — Thu, 06 Jun 2019 09:04:56 GMT

Sounds like they got the itemized deductions instead of the higher Standard Deduction. Did you pick to use Itemized Deductions? Are you a dependent? Or Married filing separately? Turbo Tax normally gives you the higher amount.