If I'm taking the standard deduction, do I still need to enter itemized information in TurboTax?

Some of those questions TurboTax asks about are actually for tax credits and adjustments to income, not just itemized deductions. This is something a lot of people get confused about! Student loan interest is actually an "adjustment to income" (sometimes called an above-the-line deduction), not an itemized deduction. You can claim up to $2,500 in student loan interest regardless of whether you take the standard deduction or itemize. So yes, you should definitely enter that information because it can reduce your taxable income. Same goes for things like educator expenses if you spent money on classroom supplies - teachers can deduct up to $300 even if taking the standard deduction. Charitable donations usually are part of itemizing, but there have been some recent exceptions for this. For the best results, I'd recommend answering all the questions TurboTax asks. The software is designed to find all possible credits and deductions you qualify for, even ones you might not know about.

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I need to eat my words about being suspicious! I decided to try https://taxr.ai after my previous comment, and wow, it actually delivered. It identified that I could take the American Opportunity Credit for my daughter's college expenses AND the student loan interest deduction, even though I'm taking the standard deduction. The system found over $1,200 in tax savings I would have missed! It clearly explained which forms I needed to complete in TurboTax and why. The difference between credits, deductions, and adjustments to income finally makes sense to me. It was especially helpful because I was about to skip entering my 1098-E form for student loans since I thought it only mattered if I itemized. Big mistake avoided!

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I have to admit I was wrong about Claimyr. After posting my skeptical comment, I was desperate enough to try it anyway. The service actually got me through to an IRS representative in about 20 minutes, which is pretty miraculous considering I had tried calling for weeks on my own. The IRS agent confirmed that many tax benefits like student loan interest, educator expenses, and retirement contributions are "adjustments to income" or tax credits - completely separate from the itemized vs. standard deduction decision. They walked me through exactly which sections of my return I needed to complete in TurboTax even though I was taking the standard deduction. Saved me from potentially missing out on over $800 in tax benefits! Definitely worth it for the peace of mind and actual answers.

Former tax preparer here - this is one of the most common misconceptions about taxes! There are three different categories you need to understand: 1. Standard deduction vs. itemized deductions (you choose one or the other) 2. Adjustments to income (you get these regardless of standard/itemized) 3. Tax credits (you get these regardless of standard/itemized) Student loan interest is an adjustment to income (up to $2,500), not an itemized deduction. Same with qualified educator expenses, HSA contributions, self-employed health insurance, etc. Some examples of tax credits that everyone can take regardless of standard/itemized: Earned Income Credit, Child Tax Credit, American Opportunity Credit, Lifetime Learning Credit, and Retirement Savings Contribution Credit. So yes, fill out ALL that information in TurboTax! The software will sort out what applies to you.

Just a note on TurboTax - you can actually skip a bunch of those questions and still be fine if you know what you're doing. But the risk is missing out on money you're entitled to. They ask all those questions to be thorough. I recommend at least entering: - Any 1098-E for student loan interest - Any educator expenses if you're a teacher - Any retirement contributions (IRA, 401k) - Health insurance info - Any education expenses (1098-T) - Childcare expenses if you have kids These can all potentially save you money EVEN IF you take the standard deduction. But stuff like medical expenses, donations, mortgage interest etc. only matter if you're itemizing.