Question

Form 1040 vs 1040SR

Forum|Forum|6 years ago
January 6, 2020
2 replies
0 views

I want to use Form 1040, NOT 1040SR. I am over 65 and expect to itemize. IRS says it is optional, but TT will not let me chose 1040 for Printing.

How do I "force" TT to let me choose?

TurboTax Premier Windows

X

xmasbaby0

Employee

Why do you think you cannot itemize using the 1040SR? The 1040SR just has larger print for seniors to make it easier to read. Your tax calculations will be the same and you can itemize whether you use Form 1040 or 1040SR.

Your issue with itemizing might just be that it is very difficult for many people to itemize now that the standard deductions are higher, and if you are 65 or older, your standard deduction is even higher.

Many taxpayers are surprised now because their itemized deductions are not having the same effect as they did on past tax returns. The new higher standard deduction and the elimination of certain deductions, as well as the cap on state and local taxes have had a major impact since the new tax laws went into effect beginning with 2018 returns.

Your itemized deductions have to be more than your standard deduction before you will see a change in your tax owed or tax refund. The deductions you enter do not necessarily count “dollar for dollar;” many of them are subject to meeting tough thresholds—medical expenses, for example, must meet a threshold that is pretty hard to reach. The software program uses all the IRS rules that apply to the expenses you enter, and it tells you if you have enough to use your itemized deductions or if using the standard deduction is more advantageous for you. Under the new tax laws, some deductions have been capped—there is a $10,000 limit to the itemized deductions for state, local, property and sales taxes.

2019 Standard Deduction Amounts

Single $12,200 (+ $1650 65 or older)

Married Filing Separate $12,200 (+ $1300 if 65 or older)

Married Filing Jointly $24,400 (+ $1300 for each spouse 65 or older)

Head of Household $18,350 (+ $1650 for 65 or older)

(Also + $1650 if legally blind)

https://ttlc.intuit.com/questions/4482873-which-federal-tax-deductions-have-been-suspended-by-tax-reform

**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.**

X

xmasbaby0

Employee

Look at line 9 of the Form 1040SR -- do you see that you can enter Schedule A if you have enough itemized deductions to exceed your standard deduction?

https://www.irs.gov/pub/irs-pdf/f1040s.pdf

**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.**

denise14107

Enter all your numbers (real estate tax, medical, charitable contributions, etc.). TurboTax will automatically itemize if it's beneficial. No need to choose.

Separate issue: if you don't like the 1040SR (I don't either) go to info worksheet; Part II bottom, and check no so it will print a regular 1040.

hope that helps! : )

S

ScottyBoy

Thank you denise14107 for simply answering the question - without asking more questions.

Info Wks. Bottom of Part II. Check "No". DONE.

Why can't other people answer the questions and THEN offer their commentary.

Microsoft is famous for this. If you have a question about ANY Microsoft product, you had better not seek your answer from their website. You always get questions and non-answers when the question was simple and the answer is too. This just happened here. The person who first answered must be from Microsoft.