topic Federal and state return jumped by a large amount when I took standard deduction, why? in After you file

Federal and state return jumped by a large amount when I took standard deduction, why?

Havens — Sun, 14 Mar 2021 20:14:34 GMT

Fed & state jumped a large amount when I took standard deduction, why?

Re: Federal and state return jumped by a large amount when I took standard deduction, why?

HelenC12 — Mon, 15 Mar 2021 18:49:47 GMT

If you're asking why your federal and state refunds jumped by a large amount when you took the standard deduction, it means that the standard deduction gives you the best outcome on your federal and state taxes.

Most 2020 federal tax filers will be better off with the standard deduction versus the itemized deduction.

Re: Federal and state return jumped by a large amount when I took standard deduction, why?

Havens — Wed, 17 Mar 2021 17:24:27 GMT

The reason I questioned it was both Federal and State jumped about 50% refund by taking the

standard deduction.

Thanks, Frank

Re: Federal and state return jumped by a large amount when I took standard deduction, why?

Havens — Wed, 17 Mar 2021 17:59:05 GMT

It jumped almost 100% which does not seem right.

Re: Federal and state return jumped by a large amount when I took standard deduction, why?

SForrestLO — Wed, 17 Mar 2021 18:27:07 GMT

A tax expert can provide further assistance regarding this.

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