☰
✕
Sign In

Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
New Member
posted Jun 1, 2019 11:12:57 AM

Is there anything that replaces the ellimination of the personal exemptions?

My deductions (personal exemptions + Itemized deductions) for last year (tax yr 2017) were almost double compared to what Turbotax says for this year (2018). My itemized deductions were/are slightly under the new standard deduction amount.  Since I no longer have the personal exemptions my total deductions are much less (almost 1/2) than last year. Is there anything I'm missing that would "replace" the personal exemptions from last year?

0 1 349
1 Replies
Intuit Alumni
Jun 1, 2019 11:12:58 AM

No. The increased standard deduction was supposed to take up the slack, but if you itemize, it doesn't help. There is also an increased Child Tax Credit, but again, if you don't qualify for it, it doesn't help.