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edavis
New Member

Why am I given an itemized total that is less than the total of the itemized items? Example: Total of all itemized deductions = $20K / TT says they = $15K

TT says to use the standard deduction but the total of my itemized deductions is greater than the standard. Yet TT comes up with a different (and smaller) total. 

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4 Replies

Why am I given an itemized total that is less than the total of the itemized items? Example: Total of all itemized deductions = $20K / TT says they = $15K

Itemized deductions do not count 1 for 1.  First, the total of all your state income taxes and property taxes is capped at $10,000, so any amounts over that are not deductible.  Second, only medical expenses in excess of 7.5% of your AGI count.  There are other potential limitations.  You have to count your deductible itemized expenses, not your raw amount.

edavis
New Member

Why am I given an itemized total that is less than the total of the itemized items? Example: Total of all itemized deductions = $20K / TT says they = $15K

Thank you for the reply. So you are saying that all of the items I entered and that are listed under tax breaks are not deductible?  
edavis
New Member

Why am I given an itemized total that is less than the total of the itemized items? Example: Total of all itemized deductions = $20K / TT says they = $15K

These are items that TT said are tax breaks.

Why am I given an itemized total that is less than the total of the itemized items? Example: Total of all itemized deductions = $20K / TT says they = $15K

I assume do, but I don't know what you are trying to deduct.  TurboTax sometimes gives misleading information about "tax breaks".
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