turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

ginanoel
New Member

My itemizations, over $28k worth isn't calculating properly and TT keeps telling me to use the standard deduction instead, but, I want to use the itemization

Is there an error reported regarding TT calculation of itemized deductions?  For instance, in Medical I have over $12k, it is only counting my child tax credit and my 1098t
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

3 Replies

My itemizations, over $28k worth isn't calculating properly and TT keeps telling me to use the standard deduction instead, but, I want to use the itemization

1) only the (unreimbursed) medical expenses that exceed 7.5% of your AGI will be used for itemized deductions.....you put in all your out-of-pocket $$, and TTX will use the proper amount based on your AGI.....so much of that 12,000 may not be used at all.

 

2) For State taxes paid plus Property taxes paid, that has a max of $10,000, so if you have $15,000 of those, only 10k will add to your itemized deductions.

____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*
Vanessa A
Expert Alumni

My itemizations, over $28k worth isn't calculating properly and TT keeps telling me to use the standard deduction instead, but, I want to use the itemization

The amount of medical expenses you enter is not the amount of the deduction you receive.  The medical expense deduction has a threshold of 7.5% of your AGI, so if you have income of $100,000 and medical expenses of $12,000, the first $7,500 is not counted towards your itemized deductions.  You would only get a deduction of $4,500 for your medical expenses.  

 

Your child tax credit and 1098-T are not part of your itemized expenses. They are credits calculated separately. 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

My itemizations, over $28k worth isn't calculating properly and TT keeps telling me to use the standard deduction instead, but, I want to use the itemization

ANNND...if your income is so low, that the Std Ded actually wipes out your taxable income without using the itemized $$....then yes, the Std Ded is usually used instead. 

 

A simpler tax file, and an advantage in that any state refund will not be included as income in next year's Federal tax return.  (might be exceptions though)

____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies