Tax Deductions That Went Away, Starting With 2018 Taxes
The Tax Cuts and Jobs Act (TJCA) was signed into law in 2017. The act nearly doubled the standard deduction and eliminated or limited many itemized deductions. The effect of the tax reform was that many people who used to itemize on Schedule A took the standard deduction instead.
Original Article Source Credits: Investopedia , https://www.investopedia.com/
Article Written By: Jim Probasco
Original Article Posted on: Mar 12, 2021
Link to Original Article: https://www.investopedia.com/tax-deductions-that-are-going-away-4582165