Solved: I am married with 1 child. why when i add my deductions such as mortgage interes and real estate tax the standard decuction gets higher then 24000.
cancel
Showing results for 
Search instead for 
Did you mean: 
Highlighted
New Member

I am married with 1 child. why when i add my deductions such as mortgage interes and real estate tax the standard decuction gets higher then 24000.

why does the standard deduction go up when my expensive are higher then 24000.?

1 Best answer

Accepted Solutions
Highlighted
Level 3

I am married with 1 child. why when i add my deductions such as mortgage interes and real estate tax the standard decuction gets higher then 24000.

If you are adding expenses and seeing the number increase above $24,000, the program switched you from Standard Deduction to Itemized Deduction. You can claim one or the other, not both, but they are both reported on line 8 on your tax return. 

The Standard Deduction will not increase when you add Real Estate Taxes or Mortgage Interest, but your Itemized Deductions will. 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post

1 Reply
Highlighted
Level 3

I am married with 1 child. why when i add my deductions such as mortgage interes and real estate tax the standard decuction gets higher then 24000.

If you are adding expenses and seeing the number increase above $24,000, the program switched you from Standard Deduction to Itemized Deduction. You can claim one or the other, not both, but they are both reported on line 8 on your tax return. 

The Standard Deduction will not increase when you add Real Estate Taxes or Mortgage Interest, but your Itemized Deductions will. 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post

Privacy Settings