Say goodbye to these tax deductions heading into tax season.
The new tax reform law, passed in December 2017, is the largest piece of tax legislation in nearly 30 years and changed several key tax provisions for taxpayers and families.
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Most notably, the standard deduction nearly doubled ($12,000 single and $24,000 married filing jointly) and some tax deductions were either eliminated or reduced. Although some tax deductions, like the dependent exemption, went away with the passage of the new tax reform law, there are still tax deductions and credits you can claim to maximize your tax refund.
Check out the infographic below to find out what tax deductions are going away effective with your 2018 taxes (the ones you file in 2019) and more tax deductions and credits you can take in their place. (Via TurboTax):
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Ken Haddad has been with Local 4/ClickOnDetroit since 2013. He helps lead news coverage and content across broadcast and digital platforms. He's from the Metro Detroit area, and loves covering important news (and sports) in his hometown.
