Question

Standard Deduction using TurboTax 2022 Deluxe

Forum|Forum|3 years ago
February 21, 2023
1 reply
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I keep getting a message in Turbo Tax 2022 Deluxe that I have maxed out my deductions of 10k for filling married filling jointly. I read $25,900 is the max I can claim? Why is this?

M

MayaD

The deduction for state and local taxes SALT is capped at $10,000 through 2025. The amount applies to both single and jointly filed returns.

The 2022 standard deduction is $25,900 for MFJ.

If the total of your itemized deductions reported on schedule A is smaller than your standard deduction, TurboTax will select the standard deduction.

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C

chriswoolieAuthor

I am Married Filling Jointly

KrisD15

As pointed out above, the program is alerting you that the maximum amount of State and Local Tax, such as State Income Tax and State Property Tax is limited to 10,000.

This limit applies only when you are Itemizing Deductions.

State tax is added to things like Home Mortgage Interest, Medical Expenses and Charitable Donations. These amounts are listed on Schedule A and included on your 1040.

Rather than Itemizing Deductions, you may choose to take the Standard Deduction, which for Tax Year 2022 is 25,900. With this option, there is no Schedule A. The Standard deduction is listed on Line 12 of your 1040.

The program will suggest you take the higher deduction, but you always have the option of either one.

Enter all your deductions to see which way is better for you.

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