Sign Up

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
cancel
Showing results for 
Search instead for 
Did you mean: 
lonely6
New Member

Why did my federal itemized deductions reduced from last year? what did I input wrong? they are the same this year.

 
1 Reply
CarolynM
Level 1

Why did my federal itemized deductions reduced from last year? what did I input wrong? they are the same this year.

Unfortunately, there are several new limits to federal itemized deductions this year.

First, and the one impacting the most taxpayers, is the cap of $10,000 on all state/local/property taxes paid.

The job related expenses for W-2 earners has also been eliminated.

There are no more deductions for tax prep, legal fees or investment expenses either.

For more information, follow this link: How Will Tax Reform Affect My 2018 Taxes

Dynamic AdsDynamic Ads
Privacy Settings
v