Answered step by step
Verified Expert Solution
Question
1 Approved Answer
how to input this information in schedule A Edward & Sally Itemized Deductions (Schedule A) If the Schedule A exceeds the standard deduction of a
how to input this information in schedule A
Edward & Sally Itemized Deductions (Schedule A) If the Schedule A exceeds the standard deduction of a married, filing jointly taxpayer(s) then line 17 Sch A is carried to 1040 Line 9 Edward, Sally and Edward, Jr. are covered by health insurance, paid for through Edward's W-2 job. They do have $1,300 of out-of-pocket Dental and Medical expenses which need recorded on Schedule A. Line 1. Follow the instructions on schedule A using .075 limitation They own their home at pay $7,200 of real estate taxes per year. They pay no other state or local income taxes as residents of Texas. The Chardon's pay mortgage interest of $17,235, on their home mortgage ($300,000 mortgage balance, original mortgage loan borrowing was $375,000). They pay no points or other deductible interest Cash gifts to the Chardon's house of worship, made in 2019, was $5,000. They also donated household goods to Goodwill at a fair value of $165. Edward & Sally Itemized Deductions (Schedule A) If the Schedule A exceeds the standard deduction of a married, filing jointly taxpayer(s) then line 17 Sch A is carried to 1040 Line 9 Edward, Sally and Edward, Jr. are covered by health insurance, paid for through Edward's W-2 job. They do have $1,300 of out-of-pocket Dental and Medical expenses which need recorded on Schedule A. Line 1. Follow the instructions on schedule A using .075 limitation They own their home at pay $7,200 of real estate taxes per year. They pay no other state or local income taxes as residents of Texas. The Chardon's pay mortgage interest of $17,235, on their home mortgage ($300,000 mortgage balance, original mortgage loan borrowing was $375,000). They pay no points or other deductible interest Cash gifts to the Chardon's house of worship, made in 2019, was $5,000. They also donated household goods to Goodwill at a fair value of $165 Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started