Schedules A&B (Form 1040) Schedule A--Itemized Deductions 2011

Summary: This is an example of Schedules A&B (Form 1040) 2011 (Schedule A) as pertains to the estate described in the text. The completed line items are:

UnderTaxes You Paid (See page A-2.):
- 5. State and local income taxes, Income taxes, check box checked field contains 1,000
- 6. Real estate taxes (see page A-5) field contains 4,000
- 9. Add lines 5 through 8 field contains 5,000
UnderInterest You Paid (See page A-5.):
- 10. Home mortgage interest and points reported to you on Form 1098 field contains 10,000
- 15. Add lines 10 through 14 field contains 10,000
UnderJob Expenses and Most Other Miscellaneous Deductions (See page A-9.):
- 23. Other expenses--investment, safe deposit box, etcetera. List type and amount field contains Bankruptcy Administrative Expenses 10,000
- 24. Add lines 21 through 23 field contains 10,000
- 25. Enter amount from Form 1040, line 38 field contains 44,000
- 26. Multiply line 24 above by 2% (.02) field contains 880
- 27. Subtract line 26 from line 24. If line 26 is more than line 24, enter 0 field contains 9,120
UnderTotal Itemized Deductions:
- 28. Is Form 1040, line 38, over $156,400 (over $78,200 if married filing separately)? No. Your deduction is not limited. Add the amounts in the far right column for lines 4 through 28. Also, enter on Form 1040, line 40. field contains 24,120

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