Choosing the standard deduction for 2018 tax return filing per TurboTax lead to a tax payment due IRS. The itemized deduction amount is similar to 2017 tax return. Why is the difference?
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Not all deductions (such as Medical) count at 100%.
State/Local/Sales/Property taxes are capped at $10,000 combined.
Mortgage interest now has limits, but be sure you indicated that the mortgage is secured by the property.
Charitable is limited to a percent of your income.
Not all deductions (such as Medical) count at 100%.
State/Local/Sales/Property taxes are capped at $10,000 combined.
Mortgage interest now has limits, but be sure you indicated that the mortgage is secured by the property.
Charitable is limited to a percent of your income.
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