Itemized deductions rolling total

Forum|Forum|6 years ago
July 13, 2020
3 replies
14 views

I've always itemized deductions. This year TT claims I am better off using standard deduction. However, I have no idea how close my itemized deductions are to the standard deduction as TT zeros them out on the page stating I am better with the standard deduction.

How can I find the total of allowed deductions I have already entered?

VolvoGirl

Level 15

For 2019 the standard deduction amounts for line 9 are:

Single 12,200 + 1,650 for 65 and over or blind

HOH 18,350 + 1,650 for 65 and over or blind

Joint 24,400+ 1,300 for each 65 and over or blind

Married filing Separate 12,200 + 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-itemized-or-vice-versa/00/25831

Starting in 2018 deductions are changing and several will be limited. There is a max 10,000 limit of State, local, property, and sales tax (SALT) deduction. And employee job expenses have been suspended. You can only deduct Medical/Dental that's over 7.5% of your AGI.

FAQ on changes

https://ttlc.intuit.com/community/tax-reform/help/how-will-tax-reform-affect-my-federal-tax-return/00/27627

Deductions that have been suspended for 2018-2025

https://ttlc.intuit.com/community/tax-reform/help/which-federal-tax-deductions-have-been-suspended-by-tax-reform/00/25565

cghermanAuthor

Level 2

I assume your response refers to a version I don't have, for I ( Premier from disk) do not have Tax Tools/Topic Search. I do have Tools, but no search feature thereunder.

In the past I tried to access Sched A by switching Step-by-Step to Forms; oddly, schedule A did not show up in the left panel listing all other forms, including work forms and forms yet to be filled out.

Today, I used Open Form under Form in task bar. That worked to open Sched A.

I would expect to see Sched A under both methods.

Thank you for your response.

VolvoGirl

Level 15

Sorry, most questions are for the online version and you didn't indicate you were using the Desktop program.

For the Desktop program

If it's giving you the Standard Deduction and not showing you Schedule A you can check it 4 ways.

1 You can switch to Forms Mode and open A from the top of the left column Open Form and pick schedule A out of the list on the right side.

2 The easiest way is to go up to Show Topic List on the top bar and scroll down the list to

Standard Deduction vs Itemized Deductions

That takes you directly to the

The Standard [or Itemized] Deduction is Right for You screen

3 You can check the actual amount of itemized deductions by going up to Search and type in

itemized deductions, choosing

Then click on Jump to itemized deductions

Click on "Change my deduction.

4 OR go up to Federal (Personal for H&B)

Deductions and Credits

Click on Done with Deductions at bottom

Continue on though 3 screens and you will get to the Standard Deduction is right for You screen

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.