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Level 1
posted Jun 4, 2019 1:56:17 PM

My itemized deduction is usually much higher than the new $24,000 standard deduction. Why did Turbo Tax automatically select the standard deduction?

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1 Best answer
Level 15
Jun 4, 2019 1:56:18 PM

Not all deductions (such as Medical) count at 100%.

There is a $10,000 cap on State/Local/Sales/Property taxes combined.

Charitable is limited to a percent of your income.

If you claim Mortgage Interest, be sure to indicate that it is secured by the property.

1 Replies
Level 15
Jun 4, 2019 1:56:18 PM

Not all deductions (such as Medical) count at 100%.

There is a $10,000 cap on State/Local/Sales/Property taxes combined.

Charitable is limited to a percent of your income.

If you claim Mortgage Interest, be sure to indicate that it is secured by the property.