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Why is turbotax recommending the standard deduction for me?

Turbotax is saying that the best option is for me to take the Standard Deduction this year...

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When I go back and look at my deduction categories for 2020, here is what I find:

Gifts to Donations and Charity:                             $2,992

Unreimbursed Employee Expenses:                    $1,141

Mortgage Interest:                                                   $14,084

Real Estate Taxes:                                                    $5,575

State and Local Income:                                        $6,113

Vehicle Registration Fees:                                     $107

State and Local Taxes Greater than $10,000:    ($1,795)

TOTAL                                                                       $28,217

 

When I go to the next page where it gives me the option to change my deduction to the Itemized approach, it is saying that my total is only $21,271:

Std. Deduction.pngCan anyone tell me why Turbotax is only finding $21,271 in itemized deductions instead of the $28,217 I'm adding up myself?

 

Thanks!   

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2 Replies

Why is turbotax recommending the standard deduction for me?

Property/state/local taxes are subject to a $10,000 cap.  Unreimbursed employee expenses are no longer allowed under law for Federal, but may be for some states.  But, in general, if the Standard Deduction already lowers your taxable income to zero, then that is used.

Why is turbotax recommending the standard deduction for me?

just to tease that out a little more, the $28,217 has to be reduced by $1141, which is not tax deductible, so it really adds up to $27076.

 

what is on Line 11 of your Form 1040? Is is $21, 271? 

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