I have $1,135 in investment expenses. My software says I need $876 to claim yet it will not take the remaining portion. Why not?

[CherylW · Accepted solution]

Are you talking about the 2% limitation?

According to the above calculations, you should get $259 on line 27 of your Schedule A.

Did you beat the standard deduction (see chart below) with your total deductions?

Turbo Tax gives you the higher of the two.

[j4p3l3ch]

HI This did not totally help me.  As the statement in the software says that I only need $876 to qualify, yet it is $876 above what I already included in order to qualify for the deduction 2%.  Looking at Schedule A, Line 24 is $1200 but line 27 is $2076, thus I need $ 876 more to qualify.  Not just $876 in total.  Thus Line 27 on schedule A = $0.  This should be corrected to explain this more clearly.
Thank you.