Solved: Does the new SD of 24K for filing jointly, mean I shouldn't go through the work of itemizing if that amount comes to less than 24K?
Sign Up

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
Announcements
TurboTax has you covered during Covid. Get the latest second stimulus info here.
cancel
Showing results for 
Search instead for 
Did you mean: 
New Member

Does the new SD of 24K for filing jointly, mean I shouldn't go through the work of itemizing if that amount comes to less than 24K?

choice:   itemized (and that amount is 22K), or forego and use the standard deduction (married filing jointly) of 24K?

1 Best answer

Accepted Solutions
Level 4

Does the new SD of 24K for filing jointly, mean I shouldn't go through the work of itemizing if that amount comes to less than 24K?

Yes,  if you are confident that your itemized deductions are less than the standard deduction of $24,400 for a married couple filing jointly then you do not have to go through the work of itemizing.

You should always use the deduction that is the largest either the standard deduction or the itemized deduction.

 

[Edited 03/09/2020 | 3:37 pm PDT]

View solution in original post

1 Reply
Level 4

Does the new SD of 24K for filing jointly, mean I shouldn't go through the work of itemizing if that amount comes to less than 24K?

Yes,  if you are confident that your itemized deductions are less than the standard deduction of $24,400 for a married couple filing jointly then you do not have to go through the work of itemizing.

You should always use the deduction that is the largest either the standard deduction or the itemized deduction.

 

[Edited 03/09/2020 | 3:37 pm PDT]

View solution in original post

Dynamic Ads
v
Privacy Settings