Federal deductions and credits

[drams80]

Dear Turbo Tax,

I just finished my taxes and just want to make sure they are correct.  Last year we received  $650 back from Federal.  This year It looks like we owe $2100.  We made about $8000 more this year.  But when I compare my deductions to last year which were at $28,963 I am only receiving $24,000.   Does this sound correct or could I have entered something wrong on my taxes.

Thank you for your time,

William Gale

[Anita01 · Accepted solution]

For a married couple, $24,000 is the new standard deduction, so it looks lie you did not itemize.  You should go to Forms and click on any Schedule A showing to see if you itemized.  If none is showing, click the Open Form button just above the list of forms, then enter Schedule A to see what you entered and what they totaled to.  Some deductions, like medical, are subject to subtractions and some are no longer deductible under the new tax laws.

If you have W-2 income, the new tax laws caused much less to be withheld during the year, so many people ended up owing.  Compare the withholding amount in Box 2 on your W-2s.

[drams80]

I did itemize, but on the 24,000 is listed on the summary sheet