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rjmtre
New Member

Turbotax is telling me to take the itemized deduction, even though it is lower than the standard deduction. This increases my refund. Why?

 
3 Replies
MaryK1101
Expert Alumni

Turbotax is telling me to take the itemized deduction, even though it is lower than the standard deduction. This increases my refund. Why?

This is very odd- because we cannot see your tax return, you may want to call in so a live assistant can help.  See What is the TurboTax phone number?

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rjmtre
New Member

Turbotax is telling me to take the itemized deduction, even though it is lower than the standard deduction. This increases my refund. Why?

I did speak with live and got my answer.  It was due to prior years' Alternative Minimum Tax and the "credit" that I had built up as a result.  I didn't fully understand, and it was a new one for the live CPA as well, but it turns out that since I had been hit so hard with AMT in prior years, this now serves as a "credit" if I itemize.  This credit can last up to 20 years! - Thanks

KarenJ2
Expert Alumni

Turbotax is telling me to take the itemized deduction, even though it is lower than the standard deduction. This increases my refund. Why?

If you are interested in more information on AMT and AMT credit carryforward,  please see this TurboTax article on AMT and Common Tax Questions

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