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Why isn't TurboTax Deluxe deducting property tax when I enter amount in Form 1098 Box 11?

 
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Accepted Solutions
Anita01
New Member

Why isn't TurboTax Deluxe deducting property tax when I enter amount in Form 1098 Box 11?

There are several possible reasons.  

One is that you have not yet exceeded the amount needed for itemized deductions in total to exceed your standard deduction.  Since the program starts with the standard deduction, you will see no change until ALL your itemized deductions exceed the standard.  

You are already being refunded all your tax withheld.  More itemized deductions won't increase your refund then.

You are paying AMT, in which case property tax is added back to income for AMT and you will see no net increase in your refund or tax due.

The tax you owe is a type that does not get reduced by itemized deductions.

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1 Reply
Anita01
New Member

Why isn't TurboTax Deluxe deducting property tax when I enter amount in Form 1098 Box 11?

There are several possible reasons.  

One is that you have not yet exceeded the amount needed for itemized deductions in total to exceed your standard deduction.  Since the program starts with the standard deduction, you will see no change until ALL your itemized deductions exceed the standard.  

You are already being refunded all your tax withheld.  More itemized deductions won't increase your refund then.

You are paying AMT, in which case property tax is added back to income for AMT and you will see no net increase in your refund or tax due.

The tax you owe is a type that does not get reduced by itemized deductions.

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