I have new military clients. He filed MFS before she came in to get her taxes done. They have a child and would do better as joint. When he filed, he took 100% of the itemized deductions on the 1040.
He also filed HI as MFS of course. The HI return showed all of his mortgage interest and deductible mortgage insurance as a deduction. As I am recreating the tax return, I am unable to recreate that part unless I override the entry. I overrode it to recreate the original return so that I could make the changes and do the amendment.
Now, I'm amending, he is still MFS (she is TN) and it is still giving me a figure that is greatly reduced.
Sch A= Mortgage interest paid was $7896 on the 1098; $787 points not on a 1098; deductible mortgage insurance was $5536.
The worksheet is only giving him $4120 in interest and $411 in points.
So I need to ask if he should indeed get 100% of the Sch A deduction on the Itemized Deductions Worksheet A-3.
I have looked at HI in TTB All States, and it doesn't say that it needs to be reduced.
He also filed HI as MFS of course. The HI return showed all of his mortgage interest and deductible mortgage insurance as a deduction. As I am recreating the tax return, I am unable to recreate that part unless I override the entry. I overrode it to recreate the original return so that I could make the changes and do the amendment.
Now, I'm amending, he is still MFS (she is TN) and it is still giving me a figure that is greatly reduced.
Sch A= Mortgage interest paid was $7896 on the 1098; $787 points not on a 1098; deductible mortgage insurance was $5536.
The worksheet is only giving him $4120 in interest and $411 in points.
So I need to ask if he should indeed get 100% of the Sch A deduction on the Itemized Deductions Worksheet A-3.
I have looked at HI in TTB All States, and it doesn't say that it needs to be reduced.
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