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New Member
posted Jun 1, 2019 6:57:49 PM

2. Why am I forced into taking the standard deduction of 24,000 when last yearmy taxable income was lowered over 60,000 by deductions?

why is the total so much less than last year? I entered the same amount of itemized deductions. 

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2 Replies
Level 15
Jun 1, 2019 6:57:51 PM

Are you Married Filing Separately, and did your Spouse claim Standard?

Level 15
Jun 1, 2019 6:57:52 PM

Several thoughts:

1. There are no more Personal Exemptions (deductions) of $4,050 per person.

2. Do not confuse Schedule A (personal) deductions with Schedule C (business) ones.  Only Schedule A ones are compared to the Standard deduction to see which is higher.

3. Under the new tax law, the Schedule A deduction for State/Local/Sales/Property tax combined is capped at $10,000.

4. Mortgage interest is limited, depending upon its use.

5. If claiming Mortgage Interest, be sure to say that the mortgage is secured by the property.