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jeanne-reid
New Member

Why do I only have 13,000+ in deductions, when I add 34,313.00 in deductions

 
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AmandaR1
New Member

Why do I only have 13,000+ in deductions, when I add 34,313.00 in deductions

Although you may have entered $34,313 total, many itemized deductions are limited by a percentage of Adjusted Gross Income (AGI - a subtotal on your return). Things like employee job expenses are limited by 2%, medical expenses by 10%, losses by $100 and 10% of AGI, charitable deductions have alternative limitations, miscellaneous deductions by 2% etc. 

Also if your AGI exceeds limitations, your itemized deduction may be reduced making the standard deduction the greater option (311,300 if married filing jointly or qualifying widow(er), $285,350 if head of household, $259,400 if single, or $155,650 if married filing separately).

Let me know if you have more questions on specific itemized deductions. 

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AmandaR1
New Member

Why do I only have 13,000+ in deductions, when I add 34,313.00 in deductions

Although you may have entered $34,313 total, many itemized deductions are limited by a percentage of Adjusted Gross Income (AGI - a subtotal on your return). Things like employee job expenses are limited by 2%, medical expenses by 10%, losses by $100 and 10% of AGI, charitable deductions have alternative limitations, miscellaneous deductions by 2% etc. 

Also if your AGI exceeds limitations, your itemized deduction may be reduced making the standard deduction the greater option (311,300 if married filing jointly or qualifying widow(er), $285,350 if head of household, $259,400 if single, or $155,650 if married filing separately).

Let me know if you have more questions on specific itemized deductions. 

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