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teedub1954
New Member

My property tax + sales tax + mortgage interest + charitable deductions + $29,000. However, Turbo Tax saws I should take the standard deduction and not itemize. Why?

 
1 Reply
Zbucklyo
Level 9

My property tax + sales tax + mortgage interest + charitable deductions + $29,000. However, Turbo Tax saws I should take the standard deduction and not itemize. Why?

The sum if your sales tax and property tax deductions will be truncated to $10000 (or $5000 if MFS).  Presumably, if you take that into account, the standard deduction is better.

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