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
    3 hours ago











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

    – hmajumdar
    38 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
    9 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
    3 hours ago











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

    – hmajumdar
    38 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
    9 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 1 min 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
    3 hours ago











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

    – hmajumdar
    38 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
    9 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
    3 hours ago











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

    – hmajumdar
    38 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
    9 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
3 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
3 hours ago













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

– hmajumdar
38 mins ago





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

– hmajumdar
38 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
9 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
9 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

    – Harper
    1 min 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
    40 mins ago











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2 Answers
2






active

oldest

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2 Answers
2






active

oldest

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active

oldest

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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

    – Harper
    1 min 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

    – Harper
    1 min 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 3 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

    – Harper
    1 min 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

    – Harper
    1 min 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

– Harper
1 min 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

– Harper
1 min 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
    40 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
    40 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 3 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
    40 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
    40 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
40 mins ago





Thank you for answering.

– hmajumdar
40 mins ago


















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