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jbackusn
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Why would Turbotax recommend Standard Deduction in lieu of Itemized Deductions when my taxes are about $1000.00 lower using Itemized Deductions? .

It appears that the difference is in the AMT. 

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Rashida
New Member

Why would Turbotax recommend Standard Deduction in lieu of Itemized Deductions when my taxes are about $1000.00 lower using Itemized Deductions? .

For electing itemize deduction for a single filer, the amount should be greater than $6300 (for 65 and over $7,850). 

Also, it depends on your filing status and age.

•    If you are filing married file separately and your spouse electing standard deductions. In this situation, you will allow taking standard deductions as well.

Or 

•    If you are over age 65, you will get higher Standard Deduction for single filler $6,300 + $ 1,550.

You can open forms mode to see your standard deductions. Or if you are using TTO use the following instructions. 

The instructions for the online version of TurboTax:

•    Click on "My Account" first in the upper-right corner (as of Feb. 26, 2016, anyway).

•    Then click on the "Tools" menu item.

•    Now the instructions above work (click on "View Tax Summary" followed by "Preview my 1040").

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5 Replies

Why would Turbotax recommend Standard Deduction in lieu of Itemized Deductions when my taxes are about $1000.00 lower using Itemized Deductions? .

Are you over age 65?  If so, you get  higher Standard Deduction.

Why would Turbotax recommend Standard Deduction in lieu of Itemized Deductions when my taxes are about $1000.00 lower using Itemized Deductions? .

Easy way to see what is happening ... switch to the FORMS mode and look at the return (print the 1040) then switch back and make the other deduction choice, then back to FORMS mode and look at the 1040 again ... compare them closely then choose the option you want.

Why would Turbotax recommend Standard Deduction in lieu of Itemized Deductions when my taxes are about $1000.00 lower using Itemized Deductions? .

Are you filing as married filing separately?
Rashida
New Member

Why would Turbotax recommend Standard Deduction in lieu of Itemized Deductions when my taxes are about $1000.00 lower using Itemized Deductions? .

For electing itemize deduction for a single filer, the amount should be greater than $6300 (for 65 and over $7,850). 

Also, it depends on your filing status and age.

•    If you are filing married file separately and your spouse electing standard deductions. In this situation, you will allow taking standard deductions as well.

Or 

•    If you are over age 65, you will get higher Standard Deduction for single filler $6,300 + $ 1,550.

You can open forms mode to see your standard deductions. Or if you are using TTO use the following instructions. 

The instructions for the online version of TurboTax:

•    Click on "My Account" first in the upper-right corner (as of Feb. 26, 2016, anyway).

•    Then click on the "Tools" menu item.

•    Now the instructions above work (click on "View Tax Summary" followed by "Preview my 1040").

Why would Turbotax recommend Standard Deduction in lieu of Itemized Deductions when my taxes are about $1000.00 lower using Itemized Deductions? .

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