Should I choose Itemized or Standard deduction?












4















I see I am saving more when I choose Itemized deduction, even though its less than standard deduction. Is that normal? And in this case should I choose itemized and disregard recommendation of Turbo Tax? Screenshots below.




  1. When I choose Standard Deduction.


enter image description here




  1. When I choose Itemized Deduction.


enter image description here






united-states income-tax tax-deduction turbotax maryland







share|improve this question

























  • @Ben, with the standard deduction, it appears to be showing tax due for Md.

    – prl
    4 hours ago






  • 1





    This seems like a flaw in your tax software--it should take the state rules into account when making a recommendation for itemizing deductions.

    – prl
    4 hours ago











  • Yes, I am using turbo tax btw, they should do a better job with recommendation.

    – hmajumdar
    49 mins ago











  • This sort of thing is exactly why I have tax forms in Excel, so I can punch in numbers and play "what if".

    – Harper
    19 mins ago


















4















I see I am saving more when I choose Itemized deduction, even though its less than standard deduction. Is that normal? And in this case should I choose itemized and disregard recommendation of Turbo Tax? Screenshots below.




  1. When I choose Standard Deduction.


enter image description here




  1. When I choose Itemized Deduction.


enter image description here






united-states income-tax tax-deduction turbotax maryland







share|improve this question

























  • @Ben, with the standard deduction, it appears to be showing tax due for Md.

    – prl
    4 hours ago






  • 1





    This seems like a flaw in your tax software--it should take the state rules into account when making a recommendation for itemizing deductions.

    – prl
    4 hours ago











  • Yes, I am using turbo tax btw, they should do a better job with recommendation.

    – hmajumdar
    49 mins ago











  • This sort of thing is exactly why I have tax forms in Excel, so I can punch in numbers and play "what if".

    – Harper
    19 mins ago
















4












4








4








I see I am saving more when I choose Itemized deduction, even though its less than standard deduction. Is that normal? And in this case should I choose itemized and disregard recommendation of Turbo Tax? Screenshots below.




  1. When I choose Standard Deduction.


enter image description here




  1. When I choose Itemized Deduction.


enter image description here






united-states income-tax tax-deduction turbotax maryland







share|improve this question
















I see I am saving more when I choose Itemized deduction, even though its less than standard deduction. Is that normal? And in this case should I choose itemized and disregard recommendation of Turbo Tax? Screenshots below.




  1. When I choose Standard Deduction.


enter image description here




  1. When I choose Itemized Deduction.


enter image description here






united-states income-tax tax-deduction turbotax maryland




united-states income-tax tax-deduction turbotax maryland






share|improve this question















share|improve this question













share|improve this question




share|improve this question








edited 12 mins ago









Ben Miller

79.3k19218282




79.3k19218282










asked 4 hours ago









hmajumdarhmajumdar

25617




25617













  • @Ben, with the standard deduction, it appears to be showing tax due for Md.

    – prl
    4 hours ago






  • 1





    This seems like a flaw in your tax software--it should take the state rules into account when making a recommendation for itemizing deductions.

    – prl
    4 hours ago











  • Yes, I am using turbo tax btw, they should do a better job with recommendation.

    – hmajumdar
    49 mins ago











  • This sort of thing is exactly why I have tax forms in Excel, so I can punch in numbers and play "what if".

    – Harper
    19 mins ago





















  • @Ben, with the standard deduction, it appears to be showing tax due for Md.

    – prl
    4 hours ago






  • 1





    This seems like a flaw in your tax software--it should take the state rules into account when making a recommendation for itemizing deductions.

    – prl
    4 hours ago











  • Yes, I am using turbo tax btw, they should do a better job with recommendation.

    – hmajumdar
    49 mins ago











  • This sort of thing is exactly why I have tax forms in Excel, so I can punch in numbers and play "what if".

    – Harper
    19 mins ago



















@Ben, with the standard deduction, it appears to be showing tax due for Md.

– prl
4 hours ago





@Ben, with the standard deduction, it appears to be showing tax due for Md.

– prl
4 hours ago




1




1





This seems like a flaw in your tax software--it should take the state rules into account when making a recommendation for itemizing deductions.

– prl
4 hours ago





This seems like a flaw in your tax software--it should take the state rules into account when making a recommendation for itemizing deductions.

– prl
4 hours ago













Yes, I am using turbo tax btw, they should do a better job with recommendation.

– hmajumdar
49 mins ago





Yes, I am using turbo tax btw, they should do a better job with recommendation.

– hmajumdar
49 mins ago













This sort of thing is exactly why I have tax forms in Excel, so I can punch in numbers and play "what if".

– Harper
19 mins ago







This sort of thing is exactly why I have tax forms in Excel, so I can punch in numbers and play "what if".

– Harper
19 mins ago












2 Answers
2






active

oldest

votes


















4














From the Maryland tax web site: https://taxes.marylandtaxes.gov/Individual_Taxes/General_Information/What_s_New_for_the_Tax_Filing_Season.shtml



Should I take the standard deduction or itemize? - The federal tax reform of 2017 significantly raised the federal standard deduction. Under current Maryland law, if you take the standard deduction the federal level, you cannot itemize at the Maryland level. You may take the federal standard deduction, while this may reduce your federal tax liability, it may result in an increase to your Maryland income tax liability. The Comptroller’s Office encourages you to run your income tax returns under both deduction methods, and to compare the results of taking the standard deduction versus itemizing yours deductions, to see which method causes the lowest overall tax liability.






share|improve this answer
























  • Well, it folded about a $5500 personal exemption into about a $6500 standard deduction. For people who didn't have $6500 of deductions before, it's a wash, for people who had $6501-12,000 of deductions it's total lose, and for high deducters it's a wash. /golfclap. Stuff like this Maryland case just makes it more of a lose.

    – Harper
    12 mins ago





















5














According to Maryland State Law, the Maryland standard deduction is $2,250, and you may not itemize in Maryland if you choose the standard deduction on your federal return.



Therefore, choosing to itemize will increase your federal AGI slightly (and therefore your federal tax burden), but will reduce your Maryland AGI by potentially up to $20,000. That would explain the significant difference in results you see.






share|improve this answer


























  • Is it 2500 or 2250?

    – Ben Voigt
    1 hour ago











  • Thanks, fixed above. SE aint easy to do on a phone.

    – Guest5
    1 hour ago











  • Thank you for answering.

    – hmajumdar
    51 mins ago











Your Answer








StackExchange.ready(function() {
var channelOptions = {
tags: "".split(" "),
id: "93"
};
initTagRenderer("".split(" "), "".split(" "), channelOptions);

StackExchange.using("externalEditor", function() {
// Have to fire editor after snippets, if snippets enabled
if (StackExchange.settings.snippets.snippetsEnabled) {
StackExchange.using("snippets", function() {
createEditor();
});
}
else {
createEditor();
}
});

function createEditor() {
StackExchange.prepareEditor({
heartbeatType: 'answer',
autoActivateHeartbeat: false,
convertImagesToLinks: true,
noModals: true,
showLowRepImageUploadWarning: true,
reputationToPostImages: 10,
bindNavPrevention: true,
postfix: "",
imageUploader: {
brandingHtml: "Powered by u003ca class="icon-imgur-white" href="https://imgur.com/"u003eu003c/au003e",
contentPolicyHtml: "User contributions licensed under u003ca href="https://creativecommons.org/licenses/by-sa/3.0/"u003ecc by-sa 3.0 with attribution requiredu003c/au003e u003ca href="https://stackoverflow.com/legal/content-policy"u003e(content policy)u003c/au003e",
allowUrls: true
},
noCode: true, onDemand: true,
discardSelector: ".discard-answer"
,immediatelyShowMarkdownHelp:true
});


}
});














draft saved

draft discarded


















StackExchange.ready(
function () {
StackExchange.openid.initPostLogin('.new-post-login', 'https%3a%2f%2fmoney.stackexchange.com%2fquestions%2f105999%2fshould-i-choose-itemized-or-standard-deduction%23new-answer', 'question_page');
}
);

Post as a guest















Required, but never shown

























2 Answers
2






active

oldest

votes








2 Answers
2






active

oldest

votes









active

oldest

votes






active

oldest

votes









4














From the Maryland tax web site: https://taxes.marylandtaxes.gov/Individual_Taxes/General_Information/What_s_New_for_the_Tax_Filing_Season.shtml



Should I take the standard deduction or itemize? - The federal tax reform of 2017 significantly raised the federal standard deduction. Under current Maryland law, if you take the standard deduction the federal level, you cannot itemize at the Maryland level. You may take the federal standard deduction, while this may reduce your federal tax liability, it may result in an increase to your Maryland income tax liability. The Comptroller’s Office encourages you to run your income tax returns under both deduction methods, and to compare the results of taking the standard deduction versus itemizing yours deductions, to see which method causes the lowest overall tax liability.






share|improve this answer
























  • Well, it folded about a $5500 personal exemption into about a $6500 standard deduction. For people who didn't have $6500 of deductions before, it's a wash, for people who had $6501-12,000 of deductions it's total lose, and for high deducters it's a wash. /golfclap. Stuff like this Maryland case just makes it more of a lose.

    – Harper
    12 mins ago


















4














From the Maryland tax web site: https://taxes.marylandtaxes.gov/Individual_Taxes/General_Information/What_s_New_for_the_Tax_Filing_Season.shtml



Should I take the standard deduction or itemize? - The federal tax reform of 2017 significantly raised the federal standard deduction. Under current Maryland law, if you take the standard deduction the federal level, you cannot itemize at the Maryland level. You may take the federal standard deduction, while this may reduce your federal tax liability, it may result in an increase to your Maryland income tax liability. The Comptroller’s Office encourages you to run your income tax returns under both deduction methods, and to compare the results of taking the standard deduction versus itemizing yours deductions, to see which method causes the lowest overall tax liability.






share|improve this answer
























  • Well, it folded about a $5500 personal exemption into about a $6500 standard deduction. For people who didn't have $6500 of deductions before, it's a wash, for people who had $6501-12,000 of deductions it's total lose, and for high deducters it's a wash. /golfclap. Stuff like this Maryland case just makes it more of a lose.

    – Harper
    12 mins ago
















4












4








4







From the Maryland tax web site: https://taxes.marylandtaxes.gov/Individual_Taxes/General_Information/What_s_New_for_the_Tax_Filing_Season.shtml



Should I take the standard deduction or itemize? - The federal tax reform of 2017 significantly raised the federal standard deduction. Under current Maryland law, if you take the standard deduction the federal level, you cannot itemize at the Maryland level. You may take the federal standard deduction, while this may reduce your federal tax liability, it may result in an increase to your Maryland income tax liability. The Comptroller’s Office encourages you to run your income tax returns under both deduction methods, and to compare the results of taking the standard deduction versus itemizing yours deductions, to see which method causes the lowest overall tax liability.






share|improve this answer













From the Maryland tax web site: https://taxes.marylandtaxes.gov/Individual_Taxes/General_Information/What_s_New_for_the_Tax_Filing_Season.shtml



Should I take the standard deduction or itemize? - The federal tax reform of 2017 significantly raised the federal standard deduction. Under current Maryland law, if you take the standard deduction the federal level, you cannot itemize at the Maryland level. You may take the federal standard deduction, while this may reduce your federal tax liability, it may result in an increase to your Maryland income tax liability. The Comptroller’s Office encourages you to run your income tax returns under both deduction methods, and to compare the results of taking the standard deduction versus itemizing yours deductions, to see which method causes the lowest overall tax liability.







share|improve this answer












share|improve this answer



share|improve this answer










answered 4 hours ago









prlprl

1,541510




1,541510













  • Well, it folded about a $5500 personal exemption into about a $6500 standard deduction. For people who didn't have $6500 of deductions before, it's a wash, for people who had $6501-12,000 of deductions it's total lose, and for high deducters it's a wash. /golfclap. Stuff like this Maryland case just makes it more of a lose.

    – Harper
    12 mins ago





















  • Well, it folded about a $5500 personal exemption into about a $6500 standard deduction. For people who didn't have $6500 of deductions before, it's a wash, for people who had $6501-12,000 of deductions it's total lose, and for high deducters it's a wash. /golfclap. Stuff like this Maryland case just makes it more of a lose.

    – Harper
    12 mins ago



















Well, it folded about a $5500 personal exemption into about a $6500 standard deduction. For people who didn't have $6500 of deductions before, it's a wash, for people who had $6501-12,000 of deductions it's total lose, and for high deducters it's a wash. /golfclap. Stuff like this Maryland case just makes it more of a lose.

– Harper
12 mins ago







Well, it folded about a $5500 personal exemption into about a $6500 standard deduction. For people who didn't have $6500 of deductions before, it's a wash, for people who had $6501-12,000 of deductions it's total lose, and for high deducters it's a wash. /golfclap. Stuff like this Maryland case just makes it more of a lose.

– Harper
12 mins ago















5














According to Maryland State Law, the Maryland standard deduction is $2,250, and you may not itemize in Maryland if you choose the standard deduction on your federal return.



Therefore, choosing to itemize will increase your federal AGI slightly (and therefore your federal tax burden), but will reduce your Maryland AGI by potentially up to $20,000. That would explain the significant difference in results you see.






share|improve this answer


























  • Is it 2500 or 2250?

    – Ben Voigt
    1 hour ago











  • Thanks, fixed above. SE aint easy to do on a phone.

    – Guest5
    1 hour ago











  • Thank you for answering.

    – hmajumdar
    51 mins ago
















5














According to Maryland State Law, the Maryland standard deduction is $2,250, and you may not itemize in Maryland if you choose the standard deduction on your federal return.



Therefore, choosing to itemize will increase your federal AGI slightly (and therefore your federal tax burden), but will reduce your Maryland AGI by potentially up to $20,000. That would explain the significant difference in results you see.






share|improve this answer


























  • Is it 2500 or 2250?

    – Ben Voigt
    1 hour ago











  • Thanks, fixed above. SE aint easy to do on a phone.

    – Guest5
    1 hour ago











  • Thank you for answering.

    – hmajumdar
    51 mins ago














5












5








5







According to Maryland State Law, the Maryland standard deduction is $2,250, and you may not itemize in Maryland if you choose the standard deduction on your federal return.



Therefore, choosing to itemize will increase your federal AGI slightly (and therefore your federal tax burden), but will reduce your Maryland AGI by potentially up to $20,000. That would explain the significant difference in results you see.






share|improve this answer















According to Maryland State Law, the Maryland standard deduction is $2,250, and you may not itemize in Maryland if you choose the standard deduction on your federal return.



Therefore, choosing to itemize will increase your federal AGI slightly (and therefore your federal tax burden), but will reduce your Maryland AGI by potentially up to $20,000. That would explain the significant difference in results you see.







share|improve this answer














share|improve this answer



share|improve this answer








edited 1 hour ago

























answered 4 hours ago









Guest5Guest5

1,089410




1,089410













  • Is it 2500 or 2250?

    – Ben Voigt
    1 hour ago











  • Thanks, fixed above. SE aint easy to do on a phone.

    – Guest5
    1 hour ago











  • Thank you for answering.

    – hmajumdar
    51 mins ago



















  • Is it 2500 or 2250?

    – Ben Voigt
    1 hour ago











  • Thanks, fixed above. SE aint easy to do on a phone.

    – Guest5
    1 hour ago











  • Thank you for answering.

    – hmajumdar
    51 mins ago

















Is it 2500 or 2250?

– Ben Voigt
1 hour ago





Is it 2500 or 2250?

– Ben Voigt
1 hour ago













Thanks, fixed above. SE aint easy to do on a phone.

– Guest5
1 hour ago





Thanks, fixed above. SE aint easy to do on a phone.

– Guest5
1 hour ago













Thank you for answering.

– hmajumdar
51 mins ago





Thank you for answering.

– hmajumdar
51 mins ago


















draft saved

draft discarded




















































Thanks for contributing an answer to Personal Finance & Money Stack Exchange!


  • Please be sure to answer the question. Provide details and share your research!

But avoid …



  • Asking for help, clarification, or responding to other answers.

  • Making statements based on opinion; back them up with references or personal experience.


To learn more, see our tips on writing great answers.




draft saved


draft discarded














StackExchange.ready(
function () {
StackExchange.openid.initPostLogin('.new-post-login', 'https%3a%2f%2fmoney.stackexchange.com%2fquestions%2f105999%2fshould-i-choose-itemized-or-standard-deduction%23new-answer', 'question_page');
}
);

Post as a guest















Required, but never shown





















































Required, but never shown














Required, but never shown












Required, but never shown







Required, but never shown

































Required, but never shown














Required, but never shown












Required, but never shown







Required, but never shown







-

Popular posts from this blog

Knooppunt Holsloot

Image
Knooppunt Holsloot Kenmerken Wegen A37 × N34 Type knooppunt klaverblad Portaal     Verkeer & Vervoer Knooppunt Holsloot is een verkeersknooppunt op de kruising van de autosnelweg A37 en de N34 in Drenthe, tussen Emmen en Coevorden. Oorspronkelijk was deze aansluiting een afritconstructie van het type Haarlemmermeeraansluiting, zoals bij Knooppunt Hooipolder. Sinds 2002 is het knooppunt omgebouwd tot een volledig klaverblad. Als noviteit werd hier voor het eerst gebruikgemaakt van dimbare verlichting in plaats van de normale vaste tijden waarop de verlichting aan en uit gaat, wat een grote kostenbesparing opleverde. [1] Dat Holsloot als volwaardig knooppunt is uitgevoerd, waarbij alle verkeersstromen en afbuigingen ononderbroken kunnen doorgaan, is uitzonderlijk. Het betreft hier namelijk een aansluiting tussen een autosnelweg en niet-snelweg. Een vergelijkbare situatie treft men nabij Hoensbroek bij het knooppunt Ten Esschen.     Aa
Read more

Altaar (religie)

Image
Deel van de serie over kerkelijk gerei waaronder paramenten en liturgisch vaatwerk gebruikt in de liturgie Liturgisch vaatwerk Vasa sacra Miskelk · Pateen Kelklepeltje Ciborie · Monstrans Pyxis · Custodiale Vasa non sacra Ampullen · Wijwatervat Olievaatje Wierookvat · Ablutievat Paramenten Amict · Albe · Baarkleed · Cingel Tuniek · Dalmatiek · Fanon Kazuifel · Manipel · Stola Gremiale · Benedictievelum Mijter Koorkledij Rochet · Superplie Koorkap · Cappa magna Kovel Kelkgerei Bursa · Kelkvelum Ciborievelum Kerklinnen Corporale · Kelkdoekje Lavabodoekje · Palla Altaardwaal Kerkinterieur Altaar · Ambo Biechtstoel · Communiebank Doksaal · Doopvont Faldistorium Godslamp · Hoogaltaar Heilig Kruisaltaar Katheder · Preekstoel Sedilia Tabernakel · Volksaltaar Liturgische boeken Altaarmissaal Benedictionale · Brevier Evangeliarium · Evangelistarium Graduale · Kyriale Lectionarium Psalter · Rituaal Sacramentarium · Volksmissaal Overige Flambou
Read more

Gregoriusmis

Image
Een afbeelding van de Gregoriusmis uit een getijdenboek gemaakt in de zuidelijke Nederlanden tussen 1500 en 1525 Gregoriusmis, Meester van het Akense Altaar, ca. 1500-1525. Collectie Museum Catharijneconvent De Gregoriusmis of de Mis van Sint Gregorius is een motief in katholieke kunst, dat het eerst verscheen in de late Middeleeuwen en dat nog steeds werd gebruikt tijdens de contrareformatie. Paus Gregorius I (ca. 540-604) is afgebeeld, de H. Mis opdragend, terwijl Christus als de Man van Smarten verschijnt op het altaar dat voor Sint Gregorius staat. Volgens de legende had St. Gregorius gebeden om een teken voor een betwijfelaar van de transsubstantiatieleer, waarop de lijdende Christus tijdens het opdragen van de Mis verscheen om hem te overtuigen en waarbij zijn bloed in de altaarkelk liep. Vaak zijn ook de passiewerktuigen afgebeeld. Zie de categorie Mass of Saint Gregory van Wikimedia Commons voor mediabestanden over dit onderwerp. This page is onl
Read more