Question

deduction discrepency

Forum|Forum|1 year ago
March 12, 2025
1 reply
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Hi,

I did my taxes on the turbo tax app, and after totaling my deductions, I qualified for the itemized deduction for a higher refund, but after doing them again on my laptop using a download I purchased from Costco those same deduction amounts add up to less than the standard deduction costing me hundreds on my return. The numbers are exactly the same in both: property tax deduction 10,000, deductable interest 5,764 and deductible charity 14,583. The desktop version adds those numbers up to $24, 583 and the app version adds up to $30,347???

Any idea why the change even though I input the numbers EXACTLY the same way??

Thanks

rjs

The difference between the two totals is the amount of interest that you entered. Is it home mortgage interest or investment interest? If it's mortgage interest you might have entered the amount correctly, but answered a question differently which resulted in not allowing the deduction.

In the desktop software go to forms mode and look at Schedule A. Is the interest shown on line 10? If not, go back to the Step-by-Step interview and go through the mortgage interest section again (assuming that the interest your are deducting is mortgage interest). When TurboTax asked whether the loan is secured by a property of yours, did you answer Yes? If the loan is not secured by a home that you own, the interest is not deductible and would be omitted from Schedule A.