Line 40 was on 1040 2017 and prior. Under the new tax laws, there are no more simple Form 1040EZ or 1040A's. Everything goes on a little Form 1040 that has six extra "schedules" with it.
The new 1040 is 2 half pages but now print on 1 sheet with the Signature line in the Middle.
The AGI and total income is now on line 7. Standard Deduction is line 8. Taxable income is on line 10 and Tax on line 11.
https://www.irs.gov/forms-pubs/about-form-1040
Do you think you will have enough to itemize this year? This year the Standard Deduction will be doubling so many people will be switching to the Standard Deduction. And there is a max 10,000 limit (5,000 MFS) of property tax and state taxes "SALT". SALT is State And Local Tax. Which includes property tax, any state tax paid like for last year’s return and includes any state withholding from your W2s and any 1099s you have. And any taxes in W2 box 14 and 19 like SDI or VDI. You can only deduct up to 10,000 (5,000 MFS) for SALT State and Local Taxes.
And you can only deduct Medical that’s over 7.5% of your AGI. Also the deduction for job expenses have been suspended.
FAQ on 2018 changes
https://ttlc.intuit.com/community/tax-reform/help/how-will-tax-reform-affect-my-federal-tax-return/0...
For 2018 the standard deduction amounts are:
Single 12,000 + 1,600 for 65 and over or blind
HOH 18,000 + 1,600 for 65 and over or blind
Joint 24,000+ 1,300 for each 65 and over or blind
Married filing Separate 12,000 + 1,300 for 65 and over or blind
If it's giving you the Standard Deduction and not showing you Schedule A you can check the actual amount of itemized deductions by using by going to
Tax Tools on left
Tools - Topic Search (top left box)
Type in itemized deductions, choosing. It should highlight that in the list, click on GO
Then Click on "Change my deduction". That will display the actual amount of itemized deductions vs. the standard deduction. (Be sure to uncheck "Change my deduction" after checking it so you do not lock in the wrong deduction.
How to change between the Standard Deduction and Itemized Deductions
https://ttlc.intuit.com/community/accessing/help/how-do-i-change-from-the-standard-deduction-to-item...
