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Excess deductions on termination of a trust

11Buster
Level 4

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

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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.

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abctax55
Level 15

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

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11Buster
Level 4

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