topic Itemized deductions in Deductions & credits

Itemized deductions

RArcidiacono — Tue, 14 Jul 2020 19:48:13 GMT

To whom it may concern

I have entered 17,500 in charitable donations and Medical costs. In addition I have entered 12 K in real estate and mortgage interest I know there is now a limitation of 10 K for real estate taxes and interest

So Ii should have a itemized deductible total of 27,500 however turbo tax app is choosing standard deduction of 24,400, Is there an issue with app calculating itemized deductions. The app has not changed much since last year and I have entered my deductions in the same fashion as last year

Regards

Robert J Arcidiacono Jr

Re: Itemized deductions

Texas Roger — Tue, 14 Jul 2020 19:53:08 GMT

You can only deduct the amount of medical expenses in excess of 7.5% of your Adjusted Gross Income so that is a big threshold for medical expenses.

Re: Itemized deductions

RArcidiacono — Tue, 14 Jul 2020 20:12:58 GMT

That's it!!!! I should have known that. That's what you get when you procrastinate on your taxes. You don't think clearly

Thank you very very much!!!! You made my day.

Regards

Robert J Arcidiacono Jr.