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Duncgreen
New Member

My itemized deductions are more than the standard deduction, why is turbo tax using the standard deduction

My itemized deductions are more than $30,000. Turbo tax says I should use the standard deduction. Why?

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SweetieJean
Level 15

My itemized deductions are more than the standard deduction, why is turbo tax using the standard deduction

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DanielV01
Expert Alumni

My itemized deductions are more than the standard deduction, why is turbo tax using the standard deduction

What's included in your itemized deductions?  (Approximate amounts).  The laws have changed on a few things.
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VolvoGirl
Level 15

My itemized deductions are more than the standard deduction, why is turbo tax using the standard deduction

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
<a rel="nofollow" target="_blank" href="https://ttlc.intuit.com/questions/1900142-how-do-i-change-from-the-standard-deduction-to-itemized-or...>

This year 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 2018 changes <a rel="nofollow" target="_blank" href="https://ttlc.intuit.com/questions/4482394-how-will-tax-reform-affect-my-2018-federal-tax-return">htt...>

Deductions that have been suspended for 2018
<a rel="nofollow" target="_blank" href="https://ttlc.intuit.com/questions/4482873-which-federal-tax-deductions-have-been-suspended-by-tax-re...>
SweetieJean
Level 15

My itemized deductions are more than the standard deduction, why is turbo tax using the standard deduction

If claiming Mortgage Interest, be sure to indicate that the mortgage is secured by the property.
Duncgreen
New Member

My itemized deductions are more than the standard deduction, why is turbo tax using the standard deduction

Very helpful-I found the answer I was looking for. Thanks very much.
SweetieJean
Level 15

My itemized deductions are more than the standard deduction, why is turbo tax using the standard deduction

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sureguru
New Member

My itemized deductions are more than the standard deduction, why is turbo tax using the standard deduction

Because of the new law passed in Dec 2017, if you bought a house after Dec 15 2017, you can only deduct the interest on the first 750K of your primary home, but if you bought the house before that date, you can deduct interest on up to 1M of the loan (Married filing jointly).  In my case, the TT automatically used $0 for mortgage interest because I missed the little box in TT that said Adjusted Mortgage interest = 0.  So essentially it disregarded my close to $31k in mortgage interest and ended up choosing Standard deduction instead.  You have to do some manual math to figure out the 'average' loan balance for the year and divide 1M by that amount to find the proration % of the mortgage interest.  Apply that % and then enter the number in the Adjusted Mortgage Interest box (instead of the 0 defaulted by genius TT).  Voila, now TT will use the new interest amount and use Itemized deduction instead of Standard.  At least this was the problem in my case.  Hope that helps

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