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February 29, 2024
Question

Itemized to standard filing

  • February 29, 2024
  • 1 reply
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How do you change filing status from itemized to standard filing?????

1 reply

Employee
February 29, 2024

If you have not entered enough itemized deductions to exceed your standard deduction, the software will simply default to standard deduction and use it on your return.

 

Your standard deduction lowers your taxable income. The standard deduction makes some of your income “tax free.”  It is not a refund.  You will see your standard or itemized deduction amount on line 12 of your 2023 Form 1040.

 

 

 

 

2023 STANDARD DEDUCTION AMOUNTS

 

SINGLE $13,850  (65 or older/legally blind + $1850)

 

MARRIED FILING SEPARATELY $13,850  (65 or older/legally blind + $1500)

 

MARRIED FILING JOINTLY $27,700  (65+/legally blind) )  + $1500 per spouse

 

HEAD OF HOUSEHOLD  $20,800 (65 or older/blind)  + $1850)

 

PREVIEW 1040

https://ttlc.intuit.com/questions/1901539-how-do-i-preview-my-turbotax-online-return-before-filing

 

https://ttlc.intuit.com/questions/1900142-how-can-i-tell-which-deduction-standard-or-itemized-i-m-using

 

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**