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annameller32
New Member

Should I file a short form versus an itemized if I do not have $12,000 in deductions?

 
2 Replies
SteamTrain
Level 15

Should I file a short form versus an itemized if I do not have $12,000 in deductions?

can you use the cheapest software version if you only use the Std Ded?
 maybe...maybe not.

That really depends on what other sources of income you had during the year...and what credits you may be attempting to take.

One example:  If you have any mutual funds outside of a retirement account......those usually have year-end distributions with Capital Gains that have to end up on a Schedule D.   In that situation, you would have to use at least Online Premier,  If using the Online software...while any of the desktop software versions could do it (though desktop Basic does include a state if you need one)
____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*
Carl
Level 15

Should I file a short form versus an itemized if I do not have $12,000 in deductions?

There is no more short or long form starting with the 2018 tax year. Only the 1040. If your itemized deductions exceed your standard deduction then the SCH A will be included with the 1040. Otherwise, no SCH A will be generated by the program.

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