If line17 of skd A is =22,315. why is ln12 form 1040 =30,700? filing jointly..
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The $30,700 on Form 1040 line 12 is the standard deduction. TurboTax uses that because it's more than your itemized deductions of $22,315 on Schedule A. Deducting the higher amount means you pay less tax or get a bigger refund. TurboTax automatically uses either itemized deductions or the standard deduction, whichever is higher.
The $30,700 on Form 1040 line 12 is the standard deduction. TurboTax uses that because it's more than your itemized deductions of $22,315 on Schedule A. Deducting the higher amount means you pay less tax or get a bigger refund. TurboTax automatically uses either itemized deductions or the standard deduction, whichever is higher.
The program assumes that you would rather have a large standard deduction of $30,000+ than a smaller itemized deduction of $22,000+. You get more tax free money that way. If your schedule A number was say $32,000 then that number would go into the 1040.
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