We paid $24,000 in taxes but the assessment of the itemized deductions only shows we paid $10,000. Why is there a discrepancy?

[greenbergfoster]

We paid $15010.14 but the itemized deductions only give us $10,000 paid in tax. why is there a short fall of $5000 paid.

[MichaelL1]

With the new tax law there is a limit on State and Local income taxes (SALT) of $10,000.

https://ttlc.intuit.com/replies/6971774

[SweetieJean]

The $10,000 limit also includes Property taxes.

[VolvoGirl]

You are probably being limited by SALT.  SALT is State And Local Tax.  Which includes property tax, any state tax paid like for last year’s return and includes any state withholding from your W2s and any 1099s you have.  And any taxes in W2 box 14 and 19 like SDI or VDI.  You can only deduct up to 10,000 (5,000 MFS) for SALT State and Local Taxes.

So the amount over 10,000 shows up as a negative number.  It doesn’t mean anything and doesn’t go anywhere.  Just for your info to let you know how much you can’t deduct this year.

This year the Standard Deduction will be doubling so many people will be switching to the Standard Deduction. 

FAQ on 2018 changes https://ttlc.intuit.com/questions/4482394-how-will-tax-reform-affect-my-2018-federal-tax-return

For 2018 the standard deduction amounts are:
Single 12,000 + 1,600 for 65 and over or blind
HOH 18,000 + 1,600 for 65 and over or blind
Joint 24,000+ 1,300 for each 65 and over or blind
Married filing Separate 12,000 + 1,300 for 65 and over or blind