After I entered all my deductions, I noticed my federal return did not change. I thought when I entered a deduction, it will add more to my return?
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Do you have enough deductions to Itemize? Turbo Tax starts off giving you the Standard Deduction so until your Itemized Deductions are more it won't change.
Now that the Standard Deduction is higher many people will be switching to the Standard Deduction. And there is a max 10,000 limit (5,000 MFS) of property tax and state taxes "SALT". And you can only deduct Medical that’s over 7.5% of your AGI.
For 2019 the standard deduction amounts are:
Single 12,200 + 1,650 for 65 and over or blind
HOH 18,350 + 1,650 for 65 and over or blind
Joint 24,400+ 1,300 for each 65 and over or blind
Married filing Separate 12,200 + 1,300 for 65 and over or blind
That helps. Thanks for clearing that up for me.
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