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ufcew
New Member

For 2018 taxes, which current routine deductions will be going away for retired individuals, filing jointly with no special tax-related conditions?

 
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DanielV01
Expert Alumni

For 2018 taxes, which current routine deductions will be going away for retired individuals, filing jointly with no special tax-related conditions?

Most of the expiring deductions will not affect you.  In fact, you should see help on your return from two sources:  the expanded standard deduction as well as reduced tax brackets.  The expanded standard deduction is $24,000 for Married Filing Joint.  In general, the revised tax code is favorable to married couples.  However, the increased standard deduction, as well as the elimination of the personal exemptions, does make it more difficult to gain benefits from itemized deductions.  As far as the other Tax Act provisions are concerned, please see the following website (click on link):  Summary of Tax Act Provisions

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DanielV01
Expert Alumni

For 2018 taxes, which current routine deductions will be going away for retired individuals, filing jointly with no special tax-related conditions?

Most of the expiring deductions will not affect you.  In fact, you should see help on your return from two sources:  the expanded standard deduction as well as reduced tax brackets.  The expanded standard deduction is $24,000 for Married Filing Joint.  In general, the revised tax code is favorable to married couples.  However, the increased standard deduction, as well as the elimination of the personal exemptions, does make it more difficult to gain benefits from itemized deductions.  As far as the other Tax Act provisions are concerned, please see the following website (click on link):  Summary of Tax Act Provisions

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
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