topic Hi! On the free edition, can I still deduct work expenses and charity donations? in Deductions & credits

Hi! On the free edition, can I still deduct work expenses and charity donations?

gramsey0507 — Thu, 06 Jun 2019 09:37:01 GMT

No. The Free Edition does not support itemized deduction...

xmasbaby0 — Thu, 06 Jun 2019 09:37:03 GMT

No. The Free Edition does not support itemized deductions such as donations. And as for work related expenses, if you are a W-2 employee you cannot deduct any job-related expenses on your federal return now. The new tax law took that deduction away.

Thank you! Does the $20 allow me to enter charitable dona...

gramsey0507 — Thu, 06 Jun 2019 09:37:04 GMT

Thank you! Does the $20 allow me to enter charitable donations?

No. And if that is the only itemized deduction you have,...

xmasbaby0 — Thu, 06 Jun 2019 09:37:06 GMT

No. And if that is the only itemized deduction you have, it will have no effect at all on your tax return. With the new higher standard deduction, you need enough itemized deductions to exceed your standard deduction or you will see no difference at all.

Got it. Bummer it changed, that lowers one of the incenti...

gramsey0507 — Thu, 06 Jun 2019 09:37:07 GMT

Got it. Bummer it changed, that lowers one of the incentive to donate to charities. Thank you for your help!

Many taxpayers are surprised this year because their item...

xmasbaby0 — Thu, 06 Jun 2019 09:37:10 GMT

Many taxpayers are surprised this year 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.

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.

Your standard deduction lowers your taxable income. It is not a refund

2018 Standard Deductions:

Single $12,000 (+ $1600 65 or older)

Married Filing Separately $12,000 (+ $1300 65 or older)

Married Filing Jointly $24,000 (+ $1300 each spouse 65 or older)

Head of Household $18,000 (+ $1600 65 or older)

Look at line 8 of your Form 1040 to see your standard or itemized deductions.

https://ttlc.intuit.com/questions/4482873-which-federal-tax-deductions-have-been-suspended-by-tax-reform