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Level 2
July 14, 2020
Solved

Itemized deductions

  • July 14, 2020
  • 2 replies
  • 16 views

To whom it may concern

I have entered 17,500 in charitable donations and Medical costs. In addition I have entered  12 K in real estate and mortgage interest I know there is now a limitation of 10 K for real estate taxes and interest

So Ii should have a itemized deductible total of 27,500 however turbo tax app is choosing standard deduction of 24,400, Is there an issue with app calculating itemized deductions. The app has not changed much since last year and I have entered my deductions in the same fashion as last year   

Regards 

Robert J Arcidiacono Jr 

    Best answer by Texas Roger

    Expert Reviewed

    You can only deduct the amount of medical expenses in excess of 7.5% of your Adjusted Gross Income so that is a big threshold for medical expenses. 

     

    2 replies

    Level 15
    July 14, 2020

    Expert Reviewed

    You can only deduct the amount of medical expenses in excess of 7.5% of your Adjusted Gross Income so that is a big threshold for medical expenses. 

     

    Level 2
    July 14, 2020

    That's it!!!!  I should have known that. That's what you get when you procrastinate on your taxes. You don't think clearly 

    Thank you very very much!!!! You made my day.

    Regards

    Robert J Arcidiacono Jr.