The Tax Cuts and Jobs Act of 2017 eliminated some beneficial deductions and credits. It was the largest tax overhaul in 30 years, the law could be a mixed bag for many.
Some filers will see a significant tax break, while others may see their refunds shrink.
Here are 12 tax deductions that disappeared this year:
— The standard $6,350 deduction.
— Personal exemptions.
— Unlimited state and local tax deductions.
— A $1 million mortgage interest deduction.
— An unrestricted deduction for home equity loan interest.
— Deductions for unreimbursed employee expenses.
— Miscellaneous itemized deductions.
— A deduction for moving expenses.
— Unrestricted casualty loss deduction.
— Alimony deduction.
— Deductions for certain school donations.
— Deductions from tax extenders.