174761
Before I completed my independent contractor deductions, medical deductions or charitable contributions, TurboTax said my standard deduction$13,600, would be higher. I entered charitable contributions of $495. Should I complete the other two deductions or are they already calculated into the standard deduction?
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Expenses associated with your 1099-MISC income are entered in the same section as your 1099-MISC income. They end up on a Schedule C and reduce the amount of your 1099-MISC income that is taxable. Those expenses should definitely be entered since they lower your net income that you pay ordinary income tax on and your self employment taxes.
Charitable contributions and medical expenses are an itemized deduction and are entered on Schedule A. You can either use the standard deduction or itemized deductions on your tax return but not both. Unless your itemized deductions total more than the standard deduction, TurboTax will automatically choose the standard deduction for you. Only the amount of medical expenses in excess of 7.5% of your AGI can be deducted as an itemized deduction. There is no need to enter itemized deductions unless you think the total might be more than the standard deduction.
Expenses associated with your 1099-MISC income are entered in the same section as your 1099-MISC income. They end up on a Schedule C and reduce the amount of your 1099-MISC income that is taxable. Those expenses should definitely be entered since they lower your net income that you pay ordinary income tax on and your self employment taxes.
Charitable contributions and medical expenses are an itemized deduction and are entered on Schedule A. You can either use the standard deduction or itemized deductions on your tax return but not both. Unless your itemized deductions total more than the standard deduction, TurboTax will automatically choose the standard deduction for you. Only the amount of medical expenses in excess of 7.5% of your AGI can be deducted as an itemized deduction. There is no need to enter itemized deductions unless you think the total might be more than the standard deduction.
I received a refund of 1735.00.00 from a doctor. If I put this on Schedule 1, can I still take the standard deduction?
Schedule 1 as other income? Yes you can still take the Standard Deduction. But you may not have to report it unless you Itemized it in a prior year. Did you get a 1099Misc or something for it?
Q. If I put this on Schedule 1, can I still take the standard deduction?
A. Yes
But the bigger question is do you even need to report the $1735 as income. The answer is no, unless you itemized deductions in the previous year and the amount of your medical expenses was in excess of 7.5% of your AGI. If the amount of your medical expenses, in excess of 7.5% of your AGI, was less than $1735, your report only the lesser amount as income. That is, you only report the refund as income if you got some tax benefit from claiming the deduction the previous year.
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