My itemized deductions are $78,312 yet TT is applying the Standard deduction - why? And how is this remedied?
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There are several deductions that are limited. For Medical you can only deduct the amount OVER 7.5% of your AGI. And the max for SALT (State and Local Tax) is 40,000. I think there is a limit on Charity too. Are you a dependent or filing as Married filing Separate?
If it's giving you the Standard Deduction and not showing you Schedule A you can check the actual amount of itemized deductions by using by going to
Tax Tools on left
Tools - Topic Search (top left box)
Type in itemized deductions, choosing. It should highlight that in the list, click on GO
Then Click on "Change my deduction". That will display the actual amount of itemized deductions vs. the standard deduction. (Be sure to uncheck "Change my deduction" after checking it so you do not lock in the wrong deduction.
i am using TT Deluxe for Mac - I do not see Tax Tools on the left...
In your Desktop version of TurboTax for Mac:
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