Usually I itemize my deucion but this time turbo tax says standard is better. Is this correct?
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New Member

Usually I itemize my deucion but this time turbo tax says standard is better. Is this correct?

 
4 Replies
Level 15

Usually I itemize my deucion but this time turbo tax says standard is better. Is this correct?

Most this year are taking the new higher standard deduction,

TurboTax will automatically give you the higher of the two (itemized deductions or standard deduction).

Also the itemized deductions for this year have a limitation on State Income and Local Taxes (SALT) of $10,000, that is impacting many.

New Member

Usually I itemize my deucion but this time turbo tax says standard is better. Is this correct?

Yes, it's possible this year because of the new tax law.  I suggest you input the Schedule A deductions as you usually do just in case it is possible to use them in your state return. For me, the standard deduction this year was much less than I would have taken last year, but it was important to have them put in for use in the state form.
Level 15

Usually I itemize my deucion but this time turbo tax says standard is better. Is this correct?

Do you think you will have enough to itemize this year?  This year the Standard Deduction will be doubling so many people will be switching to the Standard Deduction.  And there is a max 10,000 limit of State, local, property, and sales tax (SALT) deduction.  And you can only deduct Medical/Dental that's over 7.5% of your AGI.  And W2 job expenses have been suspended.

FAQ on 2018 changes
https://ttlc.intuit.com/questions/4482394-how-will-tax-reform-affect-my-2018-federal-tax-return

And All Miscellaneous deductions subject to the 2% limit, including unreimbursed job expenses (reported on Form 2106) have been repealed for tax years 2018 – 2025.

Deductions that have been suspended for 2018
https://ttlc.intuit.com/questions/4482873-which-federal-tax-deductions-have-been-suspended-by-tax-re...

For 2018 the standard deduction amounts are:
Single 12,000 + 1,600 for 65 and over or blind
HOH 18,000 + 1,600 for 65 and over or blind
Joint 24,000+ 1,300 for each 65 and over or blind
Married filing Separate 12,000 + 1,300 for 65 and over or blind
Level 15

Usually I itemize my deucion but this time turbo tax says standard is better. Is this correct?

 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.

How to change between the Standard Deduction and Itemized Deductions
<a rel="nofollow" target="_blank" href="https://ttlc.intuit.com/questions/1900142-how-do-i-change-from-the-standard-deduction-to-itemized-or...>
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