Open TurboTax

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
Announcements
Still need to file? Our experts can get your taxes done right. Get started >
Close icon
Do you have a TurboTax Online account?

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

cancel
Showing results for 
Search instead for 
Did you mean: 
wrblseeba
New Member

Why are my deductions of $30486 are not being used. instead you claim standard deductions of $26600 is best for me?

 
1 Best answer

Accepted Solutions
JulieCo
New Member

Why are my deductions of $30486 are not being used. instead you claim standard deductions of $26600 is best for me?

With the tax reform changes that occurred for 2018, itemized deductions have been impacted in a couple of ways, so even if the itemized deductions entered into TurboTax total $30,486, there was more than likely a restriction that prevented the full amount from being deducted.

For instance, state and local taxes (SALT) are limited to $10,000 as an itemized deduction.  This means that if your property taxes, and state income or state sales taxes total more than $10,000, only $10,000 will be included as an itemized deduction on your return. In addition, there are new restrictions on mortgage interest as well as far as what and how much can be deducted. 

See more information on the SALT limitation below:

https://ttlc.intuit.com/replies/3302003


View solution in original post

1 Reply
JulieCo
New Member

Why are my deductions of $30486 are not being used. instead you claim standard deductions of $26600 is best for me?

With the tax reform changes that occurred for 2018, itemized deductions have been impacted in a couple of ways, so even if the itemized deductions entered into TurboTax total $30,486, there was more than likely a restriction that prevented the full amount from being deducted.

For instance, state and local taxes (SALT) are limited to $10,000 as an itemized deduction.  This means that if your property taxes, and state income or state sales taxes total more than $10,000, only $10,000 will be included as an itemized deduction on your return. In addition, there are new restrictions on mortgage interest as well as far as what and how much can be deducted. 

See more information on the SALT limitation below:

https://ttlc.intuit.com/replies/3302003


message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
message box icon

Ready to start your taxes?

Hand off your taxes, get expert help, or do it yourself.

See Pricing
Manage cookies
v
ABCDEFGHIJKLMNOPQRSTUVWXYZabcdefghijklmnopqrstuvwxyz0123456789-_~