Why is Turbo Tax recommending the standard deduction of 12,200 (Single), when I can deduct more than 15,000 when I Itemize. I bought a home in 2019 and between my property taxes and mortgage interest I exceed the standard deduction. However turbo tax is telling me that my Itemized deductions only equal 6,576
Please advise
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You should revisit the "Deductions & Credits" area to see what is showing for mortgage interest and property taxes. If they do not match what you entered, revisit and re-enter your form 1098 information.
I've put in what is on my 1098, which is 9,270 in mortgage interest and 5,685 in property tax. I also have 488 in student loan interest I paid. It adds up to 15,443. Shouldn't I be able to deduct that amount from my wages. I am filing single so maybe I'm missing something. Turbo tax is telling me I have less than 7K on my Itemized deductions.
If it's giving you the Standard Deduction and not showing you Schedule A you can check the actual amount of itemized deductions by following these steps:
Now you can review your itemized deductions. If there is a change, simply select the Edit button to the right of the deduction.
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