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June 3, 2019
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Why is my refund so much different from last year? Should I have not done the standard deduction for a ira?

  • June 3, 2019
  • 1 reply
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Best answer by Marketstar

See this TurboTax FAQ for an explanation

https://ttlc.intuit.com/replies/3301788

You receive the Standard Deduction automatically if you do not have enough deductions to itemize

Your tax result may change for the better with a  deductible Traditional IRA

When you enter an IRA contribution into TurboTax, the program will let you know if and how much of the contribution is deductible- you can then view the result on the refund meter.

 

1 reply

Employee
June 3, 2019

See this TurboTax FAQ for an explanation

https://ttlc.intuit.com/replies/3301788

You receive the Standard Deduction automatically if you do not have enough deductions to itemize

Your tax result may change for the better with a  deductible Traditional IRA

When you enter an IRA contribution into TurboTax, the program will let you know if and how much of the contribution is deductible- you can then view the result on the refund meter.