02/15/2018
Deductions and Exemptions.
What changed? The personal exemption is gone. For 2018, the personal exemption would have been $4150 per person in the household for 2018.
Here is a list of other exemptions that are going away:
--Personal exemptions
--Home equity loan interest
--Moving Expenses
--Casualty and theft losses except in disaster areas
--Job expenses
--Subsidized parking and transit reimbursement
--Tax preparation fees
--Other miscellaneous deductions
How may these affect you?
Taxpayers will have to look closely to see whether other, less common deductions are also going away.
