Many of the deductions that people have been taking over the last several years are going away for years’ 2018 and later. These particular items can be found on the 1040 Schedule A. See below.
Deduction for personal casualty and theft losses suspended (unless incurred in federally-declared disaster area)
Limitations to the deduction for state and local taxes
Limitations to the deduction for home mortgage interest in certain cases
Eliminating most miscellaneous itemized deductions such as:
- Deductions for employee business expenses
- Tax preparation fees
- Investment expenses, including investment management fees
- Employment related educational expenses
- Job search expenses
- Hobby losses
- Safe deposit box fees
- Investment expenses from pass-through entities
Eliminated the limitation on itemized deductions for certain high-income taxpayers.