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I spent a lot of time gathering information for itemized deductions before learning that they would not be used on our 2018 return. How could I have avoided this?
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I spent a lot of time gathering information for itemized deductions before learning that they would not be used on our 2018 return. How could I have avoided this?
You could have done a rough estimate of your itemized deductions before you went to the trouble of getting all the details. You can see your standard deduction on Form 1040 line 8 before you enter any itemized deductions, so you know what amount your itemized deductions would have to exceed.
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I spent a lot of time gathering information for itemized deductions before learning that they would not be used on our 2018 return. How could I have avoided this?
Your itemized deductions always have had to be greater than the standard deduction for your filing status to have any tax benefit. For tax year 2018 the standard deductions were increased for all filing status
Standard deductions for 2018
Single - $12,000 add $1,600 if age 65 or older
Married Filing Separately - $12,000 add $1,300 if age 65 or older
Married Filing Jointly - $24,000 add $1,300 for each spouse age 65 or older
Head of Household - $18,000 add $1,600 if age 65 or older
Standard deductions for 2018
Single - $12,000 add $1,600 if age 65 or older
Married Filing Separately - $12,000 add $1,300 if age 65 or older
Married Filing Jointly - $24,000 add $1,300 for each spouse age 65 or older
Head of Household - $18,000 add $1,600 if age 65 or older
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I spent a lot of time gathering information for itemized deductions before learning that they would not be used on our 2018 return. How could I have avoided this?
They might still help on your state return.
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I spent a lot of time gathering information for itemized deductions before learning that they would not be used on our 2018 return. How could I have avoided this?
You could have done a rough estimate of your itemized deductions before you went to the trouble of getting all the details. You can see your standard deduction on Form 1040 line 8 before you enter any itemized deductions, so you know what amount your itemized deductions would have to exceed.