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Why are my 2019 deductions not showing up next to my 2018 deductions? Everything is entered and when I go back to view them, I can see them in the part where I enter the information but not in the comparison view.
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You may be getting back the standard deduction this year rather than the itemized deduction. You can check your 1040 preview by going to tax tools>tools>some things you can do>view tax summary. You will see a summary of your 1040 and verify in the line that says Itemized/standard deduction. The standard deductions amounts this year are $12,400 for individuals and married couples filing separately, $18,650 for heads of household, and $24,800 for married couples filing jointly and surviving spouses. if you see any of these amounts in the Itemized/standard deduction line, then you know you are receiving a standard deduction. Any other amounts will likely indicate you are receiving the itemized deduction. Don't be too concerned if it doesn't show up in the comparison screen just as long you are receiving the best deduction you deserve.
Same thing for me. 2019 Deductions not showing up next to 2018 deductions and I calculated all my 2019 Itemized deductions and it more than then standard $24,400. Must be a bug! Need a update or fix for this one:(
Please keep in mind the SALT( state and local property taxes) limitation set by the Tax Reform Act. Although your Withholding and property taxes may exceed $10,000, you lose the excess over $10,000. Under that limitation, you cannot deduct more than $10,000 for SALT payments on your 2019 Form 1040.
We automatically select the deduction that gives you the best outcome on your federal taxes. Most 2019 federal tax filers will be better off with the standard deduction versus the itemized deduction. In TurboTax, you can always switch to a different deduction.
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