This is to remind everyone that the federal extender provisions will still be applicable for 2020 returns.
Here are some of the most relevant individual extender provisions that are still applicable:
- Tuition and Fees Deduction (Form 8917/Form 1040, Schedule 1, line 21)
- Medical expense deduction floor remains at 7.5% of AGI
- Exclusion of gain from income of foreclosed home mortgage debt (Form 982, line 1e)
- Ability to treated mortgage insurance premiums as qualified mortgage interest (Schedule A, line 8d)
- Nonbusiness Energy Property Credit — Form 5695, Part II
See the 2019 IRS Publication 17 (Tax Guide for Individuals) — Impact of New Legislation section for a full list of the additional mainly business related extender provisions that are applicable through tax year 2020.
All of these provisions expire at the end of this year.