I am on "deductions and credits" and this came up - We've Chosen Itemized Deductions for YouBased on what you've told us, your federal itemized deductions of $11,268 are your best option because they will save you more money tahn the standard deduction of

dromero9476 — Sat, 01 Jun 2019 03:15:00 GMT

That is good news for you! It means your expenses (deduct...

MargaretL — Sat, 01 Jun 2019 03:15:02 GMT

That is good news for you! It means your expenses (deductions) are higher than what IRS gives you as standard amount for expenses (called standard deduction).

For example, the IRS has standard deduction of $6300 for Single individuals. Your taxable income is lowered by that amount. But if your deductions are higher than $6300, then your taxable income is lowered by your amount, thus reducing your income even more, which results in bigger refund/smaller tax bill.

https://ttlc.intuit.com/replies/3302313

topic I am on "deductions and credits" and this came up - We've Chosen Itemized Deductions for YouBased on what you've told us, your federal itemized deductions of $11,268 are your best option because they will save you more money tahn the standard deduction of in Deductions & credits

I am on "deductions and credits" and this came up - We've Chosen Itemized Deductions for YouBased on what you've told us, your federal itemized deductions of $11,268 are your best option because they will save you more money tahn the standard deduction of

That is good news for you! It means your expenses (deduct...