11Buster
Level 4
05-11-2020
01:08 PM
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Under the TCJA, are these pass-through deductions still allowed on schedule A?
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abctax55
Level 15
05-11-2020
01:12 PM
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There was just a recent clarification on this issue. I read about it over the weekend; not sure I can find the link right now...
The " excess deductions" have to be identified, and if they would have been other than Sch A misc (as in not deductible due to TCJA...) they are deductible.
Which means some amended returns may need to be done.
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abctax55
Level 15
05-11-2020
01:25 PM
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"*******Tax software is no substitute for a professional tax preparer*******
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11Buster
Level 4
05-11-2020
01:36 PM
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Thanks! Yes, I googled and had found the same link/article.