Standard or Itemized Deduction (1041 MS)

This topic explains the options available for the Standard / itemized deductions field on the MS Gen screen. Any amount entered in Itemized Deductions Claimed on Form 1041 (Force) on the MS Gen screen overrides all amounts calculated by Onvio Tax.

Code 1 - Optimize between standard / itemized

Code 1 is the recommended option. If you select code 1, Onvio Tax automatically chooses the greater of the federal deductions or the standard deduction of $1,700. 

Code 2 - Standard

Code 2 forces the standard deduction. For simple trusts, this is the only way to take the standard deduction. If you select code 2, Onvio Tax uses federal deductions that are greater than $1,700.

Code 3 - Itemized

Code 3 forces the itemized deduction.  When itemizing, Onvio Tax displays the expenses on the Expense Allocation Worksheet.


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