turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

I must be missing something this year, but my federal deductions are almost 1/2 what they were last year. My situation has not changed since last year.

Married filing jointly.
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

2 Replies

I must be missing something this year, but my federal deductions are almost 1/2 what they were last year. My situation has not changed since last year.

Your standard deduction nearly doubled,  so it is much harder to exceed your standard deduction in order to use itemized deductions.  A number of deductions have been eliminated--such as job-related deductions for W-2 employees and moving expenses.

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, job-related expenses, casualty and theft losses, for example, must meet thresholds that are 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. Here are the Standard Deductions for 2017

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

2018 Standard Deductions

Single    $12,000 (65 or older + $1300)

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

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

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


Look on line 8 of your Form 1040 to see your itemized deductions (or your standard deduction)


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.**

I must be missing something this year, but my federal deductions are almost 1/2 what they were last year. My situation has not changed since last year.

<a rel="nofollow" target="_blank" href="https://ttlc.intuit.com/questions/4482873-which-federal-tax-deductions-have-been-suspended-by-tax-re...>
**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.**
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question