The 2018 Tax Reform brought about a number of changes to itemized deductions:
If your deductions include any of the above, the deductible amount could be less than what the total deductions add up to.
Following these bullets, it appears I am still short $4,000+ in deductions. None of the bullets are applicable to me. Any other ideas?
Could I ask what the $26,000 is made up of for your 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
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
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.