topic Itemized Deductions in Deductions & credits

Itemized Deductions

lyonbondye — Tue, 11 Feb 2020 23:38:59 GMT

Will Turbotax add your deductions to your refund?

Re: Itemized Deductions

lyonbondye — Tue, 11 Feb 2020 23:43:09 GMT

To answer my own question the answer is NO!

Ever since I claimed nearly $800 in deductions due to charity donations in 2016 Turbo tax has refused to add any deductions to my return. I have filed with them every year because I had no reason to trust other tax accountants! But Turbo tax has gone off the deep end. It does not matter how much proof I do have that I did donate, they will not and have not added charity donation deductions to my taxes for the last 4 years!!!!

Re: Itemized Deductions

DoninGA — Tue, 11 Feb 2020 23:45:25 GMT

Charitable donations are only entered on Schedule A as an itemized deduction.

The total of all your itemized deductions on Schedule A must be greater than the standard deduction for your filing status to have any tax benefit.

Standard deductions for 2019

Single - $12,200 add $1,650 if age 65 or older
Married Filing Separately - $12,200 add $1,300 if age 65 or older
Married Filing Jointly - $24,400 add $1,300 for each spouse age 65 or older
Head of Household - $18,350 add $1,650 if age 65 or older

Re: Itemized Deductions

lyonbondye — Tue, 11 Feb 2020 23:56:20 GMT

It did and it still added nothing.

Re: Itemized Deductions

DoninGA — Wed, 12 Feb 2020 00:14:59 GMT

@lyonbondye wrote:

It did and it still added nothing.

If the the total itemized deductions were not greater than the standard deduction then there would not be a Schedule A included with your tax return so no charitable donations would be seen on the tax return.

Re: Itemized Deductions

KrisD15 — Wed, 12 Feb 2020 00:17:40 GMT

No, it might be subtracted from your taxable income, but it is NEVER is added to your refund. Never has been.

Re: Do I require to do Itemized Deductions if I choose standard deduction

LeonardS — Mon, 17 Feb 2020 22:23:17 GMT

No, you are not required to itemize your deductions. TurboTax will automatically calculate if you should itemize your deductions based on you input. You will only use itemized deductions if they are more than your standard deduction.

The standard deductions for 2019 are.

Single - $12,200 add $1,650 if age 65 or older add.
Married Filing Separately - $12,200 add $1,300 if age 65 or older.
Married Filing Jointly - $24,400 add $1,300 for each spouse age 65 or older.
Head of Household - $18,350 add $1,650 if age 65 or older.