Scenario Analysis
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      Schedule A - Itemized Deductions

      Use this screen to model potential itemized deductions that may reduce your clients' taxable income, including medical expenses, state and local taxes (SALT), charitable contributions, and mortgage interest.

      Do not worry about the AGI or statutory limits for the deductions for medical expenses or state and local taxes. Simply enter the gross amounts, and we’ll calculate how much will be deductible.

      Be sure to verify that any deductions generated by copying a scenario will be accurate in any new scenario. For example, in the screenshot below, our 2024 Baseline scenario (column 2) includes a charitable contribution, along with other entries copied from the prior year, which means that Peter and Paula will itemize in 2024.


      Schedule A - 1
      Schedule A - 2

      The Charity Worksheet can be used to model charitable contributions. More details can be found here.

       

      If you have any questions along the way regarding itemized deductions within Holistiplan, please Contact our Support Team for further assistance!