'Married filing jointly'. TurboTax shows 'Standard Deduction' of 29200 as our best option. What other deductions could we take to lower our taxes, right now at 22%

Forum|Forum|11 months ago
April 13, 2025
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Best answer by NCPERSON1

At this late date, you could make a pre-tax contribution to a Trad IRA or a contribution to an HSA (if you are eligible for either)... any contribution would need to occur by April 15 to impact 2024 taxes.

There isn't a way to create itemized deductions for 2024 at this time; that would have had to occur by Dec 31.

@iqayyum68

JohnB5677

To qualify for additional tax credits or higher deductions you would be required to

have children for credits, or
a home and mortgage. medical expenses, state taxes and other things for additional deductions

However, you may qualify for the Earned Income Credit.

Who qualifies for the Earned Income Tax Credit (EITC)

You can preview your tax return by going to:

On the menu bar on the left that shows.
Select Tax Tools
On the drop-down select Tools
1. Tip: If you don't see the dropdown for Tools,
2. Minimize the federal and state options using the down arrow.
On the popup menu
Select View Tax Summary
On the left sidebar
Select Preview my 1040.
The Earned Income Credit is on line 27