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Federal Extender Provisions still in effect for 2020

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.

Mark Castro, CPA

Mark Castro, CPA

Mark has been with CrossLink Professional Tax Solutions (CPTS) since 2008, but has been in the tax industry since 1990. As the government/tax industry liaison for CPTS, Mark has been very active in working with the IRS, States, and other tax industry members to help improve communications, promote standardization, and simplification of eFile systems. Mark has also been active with industry associations as a board member of the National Association of Computerized Processors (NACTP) and the Council of Electronic Revenue Communication Advancement (CERCA) for many years. These two associations work with the IRS and States to help solve key eFile and electronic tax system issues and work to improve the operations of the State and IRS eFile systems.
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