What is the difference with Casualty and theft and Schedule A between 2017 and 2018

joey184 — Wed, 31 Jul 2019 22:34:07 GMT

Re: What is the difference with Casualty and theft and Schedule A between 2017 and 2018

macuser_22 — Wed, 31 Jul 2019 22:49:29 GMT

There are no 2018 casualty and theft deductions - Congress eliminated them.

Re: What is the difference with Casualty and theft and Schedule A between 2017 and 2018

xmasbaby0 — Wed, 31 Jul 2019 23:47:13 GMT

Tax reform eliminated casualty losses except for federal disaster areas.

https://ttlc.intuit.com/community/tax-reform/help/which-federal-tax-deductions-have-been-suspended-by-tax-reform/00/25565

By differences in Schedule A are you asking about the new standard deductions and how they affect your Schedule A for itemized deductions?

Many taxpayers are surprised this year because their itemized deductions are not having the same effect as they did on past tax returns. The new higher standard deduction and the elimination of certain deductions, as well as the cap on state and local taxes have had a major impact.

Your itemized deductions have to be more than your standard deduction before you will see a change in your tax owed or tax refund. The deductions you enter do not necessarily count “dollar for dollar;” many of them are subject to meeting tough thresholds—medical expenses, for example, must meet a threshold that is pretty hard to reach. The software program uses all the IRS rules that apply to the expenses you enter, and it tells you if you have enough to use your itemized deductions or if using the standard deduction is more advantageous for you. Under the new tax laws, some deductions have been capped—there is a $10,000 limit to the itemized deductions for state, local, property and sales taxes.

Your standard deduction lowers your taxable income. It is not a refund

2018 Standard Deductions:

Single $12,000 (+ $1600 65 or older)

Married Filing Separately $12,000 (+ $1300 65 or older)

Married Filing Jointly $24,000 (+ $1300 each spouse 65 or older)

Head of Household $18,000 (+ $1600 65 or older)

Look at line 8 of your Form 1040 to see your standard or itemized deductions.

https://ttlc.intuit.com/questions/4482873-which-federal-tax-deductions-have-been-suspended-by-tax-reform

topic What is the difference with Casualty and theft and Schedule A between 2017 and 2018 in Get your taxes done using TurboTax

What is the difference with Casualty and theft and Schedule A between 2017 and 2018

Re: What is the difference with Casualty and theft and Schedule A between 2017 and 2018

Re: What is the difference with Casualty and theft and Schedule A between 2017 and 2018