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Unless all of your itemized deductions exceeded the standard deduction there will be no Sched A.
For 2018 many taxpayers that itemized in the past will find that they can no longer itemize because the standard deduction has doubled so all of their itemized deduction s no longer exceed the standard deduction.
Only if all itemized deductions exceed the standard deduction will it be of benefit.
Not all itemized deductions count the full amount. Medical expenses are reduced by 7.5% of AGI so if your AGI is $30,000, for example, then only medical expenses more than $2,250 would be an itemized deduction.
The 2018 tax law also caps the total of Sales tax OR State and local income tax, Property (real estate and personal property) taxes at $10,000.
Mortgage insurance premiums. The itemized deduction for mortgage insurance premiums expired on December 31, 2017.
Mortgage interest on loans after Dec 16, 2017 may be limited.
The Mortgage must be secured by the property to qualify.
Interest on home equity loans and lines of credit are deductible only if the borrowed funds are used to buy, build, or substantially improve the taxpayer’s home that secures the loan.
You can check the actual amount of itemized deductions by using the Search Topics for "itemized deductions, choosing" (under "My Account, Tools" in the online versions). 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.
2018 standard deductions
$12,000 Single
$18,000 Head of Household
$24,000 Married Jointly
Add an additional $1,300 for over age 65 or blind
This amount increases to $1,600 if the taxpayer is also unmarried.
...and TTX has you enter them all because:
1) The software doesn't know whether you have a sufficient $$ number of itemized deductions to be used until you enter them all. TTX cannot know ahead of time how many $$ of itemized deductions you will enter.
2) Also, a number of states have a lower itemized deductions trigger, and some allow you to itemize deductions for the state, even if not able to use them for the Federal tax return.....BUT, 95% of all possible state itemized deductions need to be entered in the Federal section first....the state section interview will only deal with other additional special deductions that are not expected to be entered in the Federal section of the interview.
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