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New Member
posted Feb 25, 2024 9:45:20 PM

The standard deduction increase by $900 without affect my refund and do I have to do anything in order to get it

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1 Replies
Expert Alumni
Feb 26, 2024 5:05:17 AM

No, you do not have to do anything.  TurboTax will help you to decide if the Standard or Itemized deductions are to your best advantage.

It may be that TurboTax started out with the Standard deduction as the default.

You can check your tax return.

The deduction is on line 12

 

  1. On the menu bar on the left that shows.
  2. Select Tax Tools
  3. On the drop-down select Tools
  4. On the popup menu
  5. Select View Tax Summary
  6. On the left sidebar
  7. Select Preview my 1040.
  8. Schedules 1,2&3 are included if you scroll down past your 1040.
  9. To return to the entry screens press Back on the sidebar.

Some key numbers on your 1040 tax return are:

Line 15 - Taxable Income

Line 24 - Total Tax.

Line 25 d - Withholdings.

Line 26 - Estimated tax payments

Line 33 - Payments including Credits.

Line 34 - Overpayments.

Line 37 - Tax owed.