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jameswilber
New Member

I have enough deductions to itemize, but why didn't the Federal Tax Calculator decrease in amount when I entered all my Schedule A deductions?

I know that deduction for taxes is limited to $10,000 and I maxed out on that. I also have a lot of mortgage interest (more than $14,000), but as I entered my deductions for taxes and mortgage interest there was no effect on the Federal Tax Calculator at the top of the screen. It did decrease when I entered my charitable contributions, but not taxes and mortgage interest. Do I have a faulty program (and thus will be  paying more than I should have to)?

1 Best answer

Accepted Solutions
AnnetteB
Intuit Alumni

I have enough deductions to itemize, but why didn't the Federal Tax Calculator decrease in amount when I entered all my Schedule A deductions?

If you are filing a joint return with your spouse, then you probably did not exceed your standard deduction until you started entering your charitable contributions.  The standard deduction for Married Filing Joint is $24,000 for 2018, which would be close to the amount that you said you had entered for mortgage interest and state and local taxes.

To be sure that you are getting the best possible deduction for your tax return and filing status, see the instructions in the TurboTax article below or take a look at your Form 1040 on line 8 (the standard deduction amount is shown right there on the form).

https://ttlc.intuit.com/replies/3300919

 

Note:  For 2019, the standard or itemized deduction is shown on Form 1040 line 9.

 

[edited 3/27/2020 | 11:38 am PST]

View solution in original post

1 Reply
AnnetteB
Intuit Alumni

I have enough deductions to itemize, but why didn't the Federal Tax Calculator decrease in amount when I entered all my Schedule A deductions?

If you are filing a joint return with your spouse, then you probably did not exceed your standard deduction until you started entering your charitable contributions.  The standard deduction for Married Filing Joint is $24,000 for 2018, which would be close to the amount that you said you had entered for mortgage interest and state and local taxes.

To be sure that you are getting the best possible deduction for your tax return and filing status, see the instructions in the TurboTax article below or take a look at your Form 1040 on line 8 (the standard deduction amount is shown right there on the form).

https://ttlc.intuit.com/replies/3300919

 

Note:  For 2019, the standard or itemized deduction is shown on Form 1040 line 9.

 

[edited 3/27/2020 | 11:38 am PST]

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