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Winner167
New Member

deductions

I am doing my extension for 2018.  When I get to the deduction page, it shows 0 for all itemized deductions including Donations, Employee expenses, mortgage interest, Real estate taxes, State Taxes, Tax prep fee,  Vehicle registration, etc.  Why is this?  Also, will this be the same for 2019?  How does this all affect my state taxes?

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3 Replies
Carl
Level 15

deductions

2018? Did you make a typo there and mean 2019? You are waaaay past the time to do an extension for 2018.

deductions

Or---do you mean you had an extension last year for your 2018 return and you are just now getting around to preparing the 2018 return---way past the deadline?  If you are getting a refund it will not matter that you missed the deadline--if you owe tax due, your penalties and interest have been adding up for months now.

 

 

If you really are working on your 2018 return, you cannot use the online program now.  

 

Online tax preparation and e-filing for 2018 returns is now permanently closed.  You had until midnight on Tuesday, October 15 to finish and attempt to e-file; if your e-file was rejected you had until October 20 to make corrections and re-file. Now it is too late to use online software or to e-file. If you have any changes/corrections at all to make to your 2018 return, you now have to complete it using desktop software, which you must download to a full PC or Mac  (not to a mobile device).Then you need to print, sign and mail it.

https://ttlc.intuit.com/questions/2559403-how-do-i-finish-a-prior-year-return-that-i-started-in-turb...

If you already paid for your online software you can ask customer support for a download of the desktop software.

They are available from 5 a.m. to 5 p.m. Pacific time Monday-Friday.

https://ttlc.intuit.com/questions/1899263-what-is-the-turbotax-phone-number

 

 

If you are getting a refund, there is no penalty for filing late.  If you owe tax due, then file and pay the amount due as shown on the Form 1040, but expect a bill later from the IRS for the penalty and interest you will owe.  Only the IRS will calculate this—TurboTax will not calculate it.

 

https://ttlc.intuit.com/community/prior-year-return/help/how-do-i-finish-a-prior-year-return-that-i-...

 

 

 

 

 

 

It seems you are confused by the itemized deductions and the effect they are having (or not having) on your tax return.  For 2018 returns and beyond, your standard deduction nearly doubled, making it very difficult to use itemized deductions.

 

 

STANDARD DEDUCTION

Many taxpayers are surprised because their itemized deductions are not having the same effect as they did on past tax returns.  The new higher standard deduction and the elimination of certain deductions, as well as the cap on state and local taxes have had a major impact since the new tax laws went into effect beginning with 2018 returns.

 

Your itemized deductions have to be more than your standard deduction before you will see a change in your tax owed or tax refund.  The deductions you enter do not necessarily count “dollar for dollar;” many of them are subject to meeting  tough thresholds—medical expenses, for example, must meet a threshold that is pretty hard to reach.  The software program uses all the IRS rules that apply to the expenses you enter, and it tells you if you have enough to use your itemized deductions or if using the standard deduction is more advantageous for you.  Under the new tax laws, some deductions have been capped—there is a $10,000 limit to the itemized deductions for state, local, property and sales taxes.

 

Your standard deduction lowers your taxable income.  It is not a refund. 

 

2018 Standard Deductions:

Single   $12,000  (+ $1600 65 or older)

Married Filing Separately    $12,000  (+ $1300 65 or older)

Married Filing Jointly  $24,000  (+ $1300 each spouse 65 or older)

Head of Household  $18,000  (+ $1600 65 or older)

Look at line 8 of your Form 1040 to see your standard or itemized deductions

**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.**

deductions

Oh----and apparently you are unaware of the deductions that were eliminated by the new tax laws--several of the things you mentioned are no longer deductible on your 2018 federal return.

 

https://ttlc.intuit.com/questions/4482873-which-federal-tax-deductions-have-been-suspended-by-tax-re...

 

https://ttlc.intuit.com/questions/4482394-how-will-tax-reform-affect-my-2018-federal-tax-return

 

**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.**

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