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 10:38:37 AM

It looks like my itemized deductions exceed 24,000. Why is Turbo Tax just claiming the standard?

0 3 445
3 Replies
New Member
Jun 1, 2019 10:38:38 AM

It's quite possible that part of what you are thinking exceeds the $24k is state and local taxes(SALT). SALT is capped at $10k total because of tax reform. Also, if you're claiming mortgage interest and any of it was home equity loans that were not used to buy, build, or improve your home, that interest is not deductible.

These are the two most common reasons that people think they should itemize this year, but end up taking the standard deduction. Please advise if this is not your issue.

New Member
Jun 1, 2019 10:38:45 AM

This is why I said please advise if this is not your issue.

New Member
Jun 1, 2019 10:38:57 AM

Let me know why you think you're over $24k and I'll see if I can help you.