turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

Standard vs Itemized Deductions

As I am completing the Deductions and Credits section in TurboTax, the message informs me that "We've chosen itemized deductions for you" and "What you are getting: Federal Itemized Deductions".  Doing so provides for $130 more deductions, so itemized is the way I want to go.  However, when I finalize my return, it uses the Standard Deduction.  Why???

x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

3 Replies

Standard vs Itemized Deductions

It's possible that the software chose the standard deduction after completing the calculations.  

To double check, take a look at your total itemized deductions on Schedule A line 17, and your 1040 line 12.  If the amount is lower than the standard deduction, then the software has calculated correctly.

The standard deduction for 2020 is as follows:

  • Single taxpayers: $12,400
  • Married taxpayers filing a joint return: $24,800
  • Heads of household: $18,650

Here is a TurboTax article about the standard deduction vs. itemizing.

 

To view forms in TurboTax,:

If you want to preview your tax return before filing, follow the steps below:

 

  • Sign into your TurboTax account
  • Click Take me to my return
  • Click My Account and choose Tools
  • You will then see Other Helpful Links and can select the option View Tax Summary
  • Choose Preview my 1040 and you can click Back to leave the preview screen. 

To view Schedule A and other worksheets in your tax return, follow the steps below:

  • Click My Account and then choose Print Center
  • Click Print, save, or preview this years return. You will then be prompted to register or pay if you haven’t done so to view your full return. 

 

Standard vs Itemized Deductions

My total itemized deductions are 26,230, while my standard deduction is 26,100 (married, with one of us being over age 65).  So my itemized deduction is slightly larger.

 

However, after further review, I see that on my form 1040-SR, that line 10b, allows me to claim 300 of my charitable contributions as a negative adjustment to my income... but only if I take the standard deduction.  Therefore, taking the standard deduction + the negative adjustment to my total income, that gives me the lowest taxable income.  Is this correct?

Standard vs Itemized Deductions

Yes it is!  You get the Standard Deduction + the extra 300 on line 10b.  That can be more than your Itemized Deductions.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question