After completing the 'wages and income' section I was on pace to owe approximately $3000 to Fed and $1000 to state. After completing the 'deductions', of which the standard deduction was used, nothing changed. Not one penny for either Fed or state budged. How is that possible that my deductions count for nothing?
Couple points that may help to answer question
1. I've been using TT for at least 7yrs now so my prior year info is in the system
2. This year we received a stock payout from my wife's company. Some counted as income and some cap gains. These were factored into the 'wages and income' section
So again, under what circumstance would deductions not move the needle at all? I don't see how that is possible. I'm essentially not being allowed to write off anything.......or there is a big in the system??