Looks like my itemized deductions for federal are more than the std. deduction but TurboTax is giving me the std. deduction. Why?
You'll need to sign in or create an account to connect with an expert.
If you are looking at the itemized deduction amount strictly based on the entries you have made, you may not be taking into account the State and Local Tax (SALT) limitations that are imposed and limited to a maximum of $10,000. When that limitation is in place, your standard deduction may actually be higher.
Use the steps in the following TurboTax article to take a look at the comparison of standard versus itemized for your return and choose which option you prefer:
How do I change from the standard deduction to itemized deductions or vice versa?
Thx for your reply. There is no issue with the tax limitations. As info, (from the 2019 Tax Breakdown page) my deductions are Charity -$13,100, Medical exp. - $13,200, State & Local taxes - $2,400, Est taxes paid - $1,500, and Vehicle Reg fees - $130; total of $30,300. This is certainly more than the $27,000 std. deduction. How do I change to std. deduction? I have entered all of the deductions on the deductions and credits page. I see a note that says all of the deductions have been entered but do not see a note that says "change my deduction" which another responder said was there in order to change to std. deduction.
I continued looking and found the option to change to itemized deductions. Unfortunately, the itemized deductions ($23,100) shown do not agree with the figures shown ($30,300) in the "Deductions" section of the "2019 Tax Breakdown" page of the backup information for my return. Now, I will have to figure out why the amounts are different.
Since we cannot see your tax return, you will have to make some educated guesses as to what is happening.
We can deduct on Schedule A (Itemized Deductions) only those medical expenses that are in excess of 7.5% of your Adjusted Gross Income (AGI). So if your gross unreimbursed medical expenses were $13,200 but your Adjusted Gross Income (line 8b on your 1040) is $80,000, then you can deduct only the excess of medical expenses over $6,000, which reduces your actual medical expense deduction to $7,200.
Is it possible that your AGI is approximately $80,000?
The difference is the limitation on medical expenses that can be deducted (over 7.5% of AGI). The "2019 Tax Breakdown" page showed the entire medical deduction, not the reduction based on 7.5% of AGI. I would suggest that the tax software be updated to show the amount after the 7.5% of AGI has been calculated. The amount shown is misleading.
Thanks for all of the help!
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
jasmyntiarra
New Member
bpm25
Returning Member
Wedding5500
Level 4
OKchris
New Member
rachelcchilds
New Member