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wdcbanker
February 13, 2021
Question

deductions

  • February 13, 2021
  • 1 reply
  • 0 views

My itemized deductions are around $30,000 even with the limited state and local taxes to $10,000, but Turbo Tax is using the Standard Deductions of $24,800.  Does that make sense?

    1 reply

    S
    SweetieJean
    Employee
    February 13, 2021

    Not all deductions (such as Medical) count at 100%.  Do you have any self-employment expense deductions?  If so, those go on Schedule C.  They don't count on Schedule A. 

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