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  • Personal Taxes
    • 1040 Income Tax Return
    • Schedule A
    • Schedule D
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    • Home
    • About Us
    • Personal Taxes
      • 1040 Income Tax Return
      • Schedule A
      • Schedule D
    • Business Taxes
      • Crypto Taxes
      • Limited Liability Company
      • 1065 Partnership Return
      • 1120 S Corporation Return
      • 990 Non Profit Tax Return
      • Real Estate Investment
    • Specialty Taxes
      • Death Tax Return Process
      • 1041 Bankruptcy Taxes
    • Pricing

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  • Personal Taxes
    • 1040 Income Tax Return
    • Schedule A
    • Schedule D
  • Business Taxes
    • Crypto Taxes
    • Limited Liability Company
    • 1065 Partnership Return
    • 1120 S Corporation Return
    • 990 Non Profit Tax Return
    • Real Estate Investment
  • Specialty Taxes
    • Death Tax Return Process
    • 1041 Bankruptcy Taxes
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Form Schedule A

Home Ownership is the financial event most closed associated with Form Schedule A.  Before The Tax Cuts and Jobs Act of 2017, tax payers were able to deduct their state real estate taxes, state income taxes, personal property taxes. This is know the SALT tax deduction. Now it is capped $10,000.

Itemized Deductions are Recorded on For Schedule A

What exactly is anbd Itemized Deduction?

If you watched my video on What is the Basic Income Tax you would understand that the income tax system is both economic and social.  The tax code encourages spending in certain sectors. These sectors are: 1. Healthcare 2. Real Estate 3. Religion.  


When you combine all of these areas of spending together the total becomes your itemized deduction.  The deduction is the amount of money taken off of your income taxes. 

Recognized Area of itemized expenses for schedule A

Medical

Home Ownership

Home Ownership

Home Ownership

Home Ownership

Home Ownership

Religion

Home Ownership

Religion

The Tax Information Knowledge Center Brochures

Medical Itemized Deduct (pdf)

Download

Homeowners Itemizing (pdf)

Download

Interest Itemized Deduct (pdf)

Download

Charitable Contributions (pdf)

Download

Charitable Non Cash Guide (pdf)

Download

IRA (QCD) (pdf)

Download
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