Welcome back! Ask questions, get answers, and join our large community of tax professionals.
cancel
Showing results for 
Search instead for 
Did you mean: 

Excess deductions on termination of a trust

11Buster
Level 3

Under the TCJA, are these pass-through deductions still allowed on schedule A?

Labels (1)
0 Cheers
3 Replies 3
abctax55
Level 15

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.

Former Chump..oops..AllStar...I used to be a people person, then people ruined it


If a post answers your question, click on *Accept as solution* for future searches
abctax55
Level 15

https://www.currentfederaltaxdevelopments.com/blog/2020/5/8/proposed-regulations-upon-which-taxpayer...

Former Chump..oops..AllStar...I used to be a people person, then people ruined it


If a post answers your question, click on *Accept as solution* for future searches
0 Cheers
11Buster
Level 3

Thanks! Yes, I googled and had found the same link/article.