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Living in CA. 2017 deductions were high. But 2018 deductions were < $30,000 with IRA contributions. Is this the same for others OR am I making a mistake?

It seems unfair. Deductions are less by a big amount compared to 2017. Are other TurboTax users seeing the same impact?

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bsmithlaw
New Member

Living in CA. 2017 deductions were high. But 2018 deductions were < $30,000 with IRA contributions. Is this the same for others OR am I making a mistake?

The "Tax Cut and Jobs Act" that was signed into law last year promised tax reductions across the board.  The reality is something else.  Ordinary deductions that most middle-class families took for granted are gone.  Although the standard deduction is higher, that doesn't compensate for the higher aggregate taxes people making less than $150,000 a year will be paying from now on.

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