turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

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

wrblseeba
New Member

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

 
Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

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
Manage cookies