Get answers to frequently asked questions about Schedule A itemized deductions.
Form 1040, Schedule A - Itemized Deductions is used to calculate the itemized deductions. When you enter itemized deductions on the Schedule A, ProSeries will compare the Itemized Deduction to the Standard Deduction and take whichever gives the taxpayer the best tax benefit.
Follow these steps to access Form 1040 Schedule A::
- Press F6 to bring up Open Forms.
- Type A and press enter to open the Schedule A.
There may be tax scenarios where you need to force the itemized or standard deduction.
Follow these steps to force ProSeries to use the itemized deduction or standard deduction:
- Open the Federal Information Worksheet.
- Scroll down to Part X - Additional Federal Return Information.
- Scroll down to the Standard Deduction/Itemized Deductions checkboxes.
- Check the box for the option that best suits your clients needs:
- Itemize even if itemized deductions are less than standard deductions
- Married filing separately and spouse itemized deductions
- Use standard deduction even if less than itemized deductions
How do I enter investment counsel and advisory fees on Schedule A?
The Tax Cuts and Jobs Act eliminated this deduction for federal returns. These instructions only apply for certain nonconforming states.
Follow these steps to enter investment counsel and advisory fees:
- Open the Schedule A.
- Scroll down to Line 16.
- Click the QuickZoom button to open the state only Miscellaneous Itemized Deduction Worksheet.
- Enter the expenses on line 17.
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