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I amended my return due to a corrected 1098. However, my 1040X didn't change and I don't have an amended Schedule A. What do I do?
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I amended my return due to a corrected 1098. However, my 1040X didn't change and I don't have an amended Schedule A. What do I do?
Update: No More Overall Limits
Itemized deductions were limited through the tax year 2017 when a taxpayer's AGI exceeded certain limits. These thresholds were called Pease limitations.
The total amount of the itemized deductions you could claim used to be reduced by 3% of the amount by which your AGI exceeded that year's threshold up to 80% of your total itemized deductions. This is no longer the case. The TCJA has repealed Pease's limitations through at least 2025 when the law sunsets or expires unless Congress acts to renew it.
[Edited 3/10/2020 2:01 PM]
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I amended my return due to a corrected 1098. However, my 1040X didn't change and I don't have an amended Schedule A. What do I do?
- Mark as New
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I amended my return due to a corrected 1098. However, my 1040X didn't change and I don't have an amended Schedule A. What do I do?
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
I amended my return due to a corrected 1098. However, my 1040X didn't change and I don't have an amended Schedule A. What do I do?
Update: No More Overall Limits
Itemized deductions were limited through the tax year 2017 when a taxpayer's AGI exceeded certain limits. These thresholds were called Pease limitations.
The total amount of the itemized deductions you could claim used to be reduced by 3% of the amount by which your AGI exceeded that year's threshold up to 80% of your total itemized deductions. This is no longer the case. The TCJA has repealed Pease's limitations through at least 2025 when the law sunsets or expires unless Congress acts to renew it.
[Edited 3/10/2020 2:01 PM]
- Mark as New
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I amended my return due to a corrected 1098. However, my 1040X didn't change and I don't have an amended Schedule A. What do I do?
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
I amended my return due to a corrected 1098. However, my 1040X didn't change and I don't have an amended Schedule A. What do I do?
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
I amended my return due to a corrected 1098. However, my 1040X didn't change and I don't have an amended Schedule A. What do I do?
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