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New Member

Why does this not include all of my itemized deductions?

My deductions total over $26,000 but the system only recognizes $21,405. I have not included medical expenses and I have not hit my limit on property taxes
6 Replies
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New Member

Why does this not include all of my itemized deductions?

The 2018 Tax Reform brought about a number of changes to itemized deductions:

  • Deduction for state and local taxes - You can’t deduct more than $10,000 ($5,000 if married filing separate) of your total state and local taxes, including income taxes (or general sales taxes, if elected instead of income taxes), real estate taxes, and personal property taxes. 
  • Mortgage interest and home equity loans – You may be able to deduct mortgage interest only on the first $750,000 ($375,000 if married filing separately) of indebtedness. Higher limitations apply if you are deducting mortgage interest from indebtedness incurred on or before December 15, 2017. In addition, there is no deduction for home equity loan interest. No matter when the indebtedness was incurred, you can no longer deduct the interest from a loan secured by your home to the extent the loan proceeds weren't used to buy, build, or improve your home.  
  • Donations – the total amount of such contributions that can be deducted is now limited to 60% of your contributions base, instead of 50%.
  • Miscellaneous deductions subject to the 2% limit – These deductions have been suspended
  • Personal casualty and theft losses – These have been suspended (with exceptions)

If your deductions include any of the above, the deductible amount could be less than what the total deductions add up to.  

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New Member

Why does this not include all of my itemized deductions?

Following these bullets, it appears I am still short $4,000+ in deductions. None of the bullets are applicable to me.  Any other ideas?
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New Member

Why does this not include all of my itemized deductions?

Could I ask what the $26,000 is made up of for your deductions?
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New Member

Why does this not include all of my itemized deductions?

Mortgage Interest, Refinancing, and Insurance is $15,387.00; Property (Real Estate) Taxes is;
$2,879.00; Child and Other Dependent Tax Credit is $2,000.00; Donations to Charity in 2018 is $2,040.00; Car Registration Fees is $321.00; Income Taxes Paid is $2,545.00; Job Expenses is
$899.00
Highlighted
New Member

Why does this not include all of my itemized deductions?

Mortgage Interest, Refinancing, and Insurance is $15,387.00; Property (Real Estate) Taxes is;
$2,879.00; Child and Other Dependent Tax Credit is $2,000.00; Donations to Charity in 2018 is $2,040.00; Car Registration Fees is $321.00; Income Taxes Paid is $2,545.00; Job Expenses is
$899.00
Highlighted
New Member

Why does this not include all of my itemized deductions?

Thank you for that information.  Looks like there are a few things that are applicable here.  The insurance is not a deductible item.  Also, the job expenses are not deductible as of 2018 as well (this falls under the miscellaneous deductions).  Lastly, the Child and Other Dependent Credit will show up as a separate line item, and not part of the itemized deductions.