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Completing tax 1040

If I only qualify for standard deductions, do I need to provide information like what I paid for personal property and real estate taxes?

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2 Replies

Completing tax 1040

If you want to skip entering your itemized deductions you can do that.  Many people will not have enough itemized deductions this year to itemize, and will just be getting their new higher standard deduction.  The thing is, though, that some of those deductions could make a difference on a state return even if they do not affect your federal return.  Information flows from your federal return to your state return, so it might not be a bad idea to go ahead and enter them anyhow.  It cannot hurt you.

 

The following states allow you to itemize deductions on just the state return: Alabama, Arizona, Arkansas, California, Delaware, Hawaii, Idaho, Iowa, Kansas, Kentucky, Minnesota, Mississippi, Montana, New York, North Carolina, Oregon, and Wisconsin, 

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
Vanessa A
Employee Tax Expert

Completing tax 1040

No.  if you know you are not going to be itemizing your return, there is no reason for you to enter your personal property interest or taxes.  The pros of not entering, depending on how simple your return is, is that you may be able to use the free version of TurboTax.

 

If you get to your state return and you live in a state that allows you to itemize, then you may want to compare your state standard deduction with your itemized expenses.  If it turns out it is better to itemize for state, some states, you can enter direcly on the state you expenses, but others you would need to go back to the federal section to enter your itemized expenses.  This can be done at any point up until you file your return. 

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