Itemized Deductions, how do I know if need to claim them and if so, how?

[JaimeG]

Itemized Deductions on Schedule A are the Counter-part of the Standard Deduction. You can only use one or the other but not both. Rule of thumb, if the sum of itemized deductions in Schedule A does not exceed the Standard Deduction the Standard deduction will be the default choice.

TurboTax allows you to Itemize through the items that you enter in the Deductions and Credits tab. You should enter as much information as possible so that TurboTax can tell you which deduction will suite you best.

Standard Deduction Amounts by Status; Tax Year 2016

• Single $6,300.00
• Married Filing Joint or Qualified Widow(er) $12,600.00
• Married Filing Separate $6,300.00
• Head of Household $9300.00
• Dependent $1,050.00

I have also attached a list of common itemized deductions so that you can enter as many as possible and make an informed decision on the election of your deduction.