Leadsheets variance - Schedule A

Line 5a State and local (Income Taxes or General Sales taxes)

The reference for the amount attributable to estimate tax paid in the following year for Input Form 1099 G: State Tax Refund won’t reduce state tax calculation for Schedule A, line 5a. This will cause a variance in the Tax Return Reconciliation.

To eliminate the variance, explain to it and enter the state tax withheld amount in the
State & Local Income Taxes Variance Analysis
section in the
Tax Deduction Worksheet
leadsheet.

note
Line 5a
on
Schedule A
will be located on
Line 5
for binders created before 2018.

Line 5b State and local real estate taxes

Amounts relating to the Vacation Home are not captured in SPbinder. This will cause a variance in Tax Return Reconciliation.

To eliminate the variance, explain to it and enter the variance amount in the Real Estate Taxes Variance Analysis section in the
Real Estate Taxes
leadsheet.

Line 8a Home mortgage interest and points are reported to you on Form 1098

Amounts relating to the Vacation Home are not captured in SPbinder. This will cause a variance in Tax Return Reconciliation.

To eliminate the variance, explain it and enter the Mortgage interest expense amount in the Mortgage Interest (Form 1098) Variance Analysis section in the
Mortgage INT-1098 Received
leadsheet

Form 8396 calculation for Mortgage interest credit is not captured in SPbinder. This will cause a variance in Tax Return Reconciliation.

To eliminate the variance, explain it and enter the variance amount in the Mortgage Interest (Form 1098) Variance Analysis section in 'Mortgage INT-1098 Received' leadsheet.

Line 8b Home mortgage interest is not reported to you on Form 1098

Input Form A-7 is not captured in SPbinder. This will cause a variance in Tax Return Reconciliation.

To eliminate the variance, explain it and enter the Mortgage interest expenses amount in the Mortgage Interest (No Form 1098) Variance Analysis section in 'Mortgage Interest –Form 1098 Received' leadsheet.

Line 9 Investment Interest Expenses

If Investment interest expense exceeds net investment income, the excess will be carried over to the next year. This Form 4952 calculation is not captured in leadsheets. And hence it will cause a variance in Tax Return Reconciliation.

To eliminate the variance, explain it and enter the disallowed investment interest expense in the Investment Interest Expenses Variance Analysis section in 'Investment Interest Expense' leadsheet.

Line 16 Other Itemized Deductions

References for Fair market value of leased vehicle and Vehicle leases on Input Form 2106 related to Schedule A are captured only for porting purpose and are not used in leadsheet calculation. This will cause a variance in Tax Return Reconciliation.

To eliminate the variance, explain it and enter the amount of variance in the Job Expenses & Union dues Variance Analysis section in the
Job Expenses & Union Dues
leadsheet.

References for Second vehicle onward in Employee Business Expenses are captured only for porting and are not used in leadsheet calculation. This will cause a variance in Tax Return Reconciliation

To eliminate the variance, explain it and enter the amount in the Job Expenses & Union dues Variance Analysis section in the
Job Expenses & Union Dues
leadsheet.
note
Unreimbursed Employee Expenses
will transfer on
line 21
for the binders created before 2018.These variances will appear only for the binders created before 2018

Code for Itemized Deduction