Checking Text Formatting in a Text Field

I need to build a fairly basic word processor that will apply text formatting seperately to eah text field on the stage an onSetFocus to any given field you can change its particular options…then when you click back into that field-the buttons that where you toggle the formatting options; bold, italic, etc. highlight based on what you’ve already selected in this field.

I thought that if I used a single textFormat object, and cleared it after each apply, I could test each text field by saying something like

if (whatEverText.bold = true;) {
boldButton.gotoAndStop(“on”)} but it’s not reading the formatting of the text field. Will I need a seperate textFormatting object for each field?

I could use a little direction from one of you pros!