How can I minimize my losses and show some positive year end result so as to make it easy to refinance home mortgage. Can I choose itemized deductions? Any other way?

[Mike9241]

why type of losses? what schedule? because of its accuracy guarantee it will take the larger of your standard or itemized deductions. and if you did a manual return taking the smaller of the two the IRS would likely correct this.  you do not want to file a false return with the finance company. 

[Mukundray]

Thanks Mike. Status Single, filing Return through TurboTax. Low Social Security Income. Meagre Investment Income. No job related income or any other income. There is a carried forward loss. Hence result is loss. Standard Deduction comes out to be approximately $3000 more than Itemized Deductions. Itemized Deductions are minimized by ignoring some Medical and Charity expenses. If there is a positive income return it helps to refinance Reverse Mortgage. Hence looking for enhancement of income. I believe I have a choice to take Itemized Deductions over Standard Deductions. If any further information is needed I will be happy to provide. I do not wish to file a false Return. 

[Mukundray]

To make it clear further how can I increase Adjusted Gross Income?

[Opus 17]

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@Mukundray wrote:

To make it clear further how can I increase Adjusted Gross Income?

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There are no tricks to increase your AGI in your situation.  Your income is whatever your income was, paid to you between Jan 1 and Dec 31, 2020.  Even if you changed to the lower itemized deduction, that changes your taxable income but not your adjusted gross income.

Potentially you could have sold more investments, but if you do that now, it will be realized as 2021 income, there is no provision to make it retroactive.