Personal Finance and Investing

still_one

(98,883 posts)

7. Yes, but for those who itemize, they limit deductions on proprerty tax and SIT,

Mon Jan 28, 2019, 09:00 PM

Jan 2019

Plus interest on equity line of credit gone, unless used to improve the property, not for college for your kid, along with eliminating the personal exemption for everyone, the state called tax break is not what people anticipate, and those who live in high tax states, not surprisingly blue one will in many cases find they will pay more tax if they used to itemize deductions

As an added bonus casualty deduction have new restrictions also

Much of this is smoke and mirrors

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Has anyone seen the new 1040 form? [View all] question everything Jan 2019 OP

Oh no, I do my own taxes and finally figired out all the ACA BigmanPigman Jan 2019 #1

Just take your time to figure it out question everything Jan 2019 #9

The personal exempltion has been eliminated, and for those who itemize deductions, they will find still_one Jan 2019 #2

The deductibles have doubled. Right? underpants Jan 2019 #4

Yes, but for those who itemize, they limit deductions on proprerty tax and SIT, still_one Jan 2019 #7

Yes, and for seniors one can add 1300 each question everything Jan 2019 #8

This message was self-deleted by its author still_one Jan 2019 #3

THis is when the taxpayers realize 2naSalit Jan 2019 #5

I downloaded the 1040 Schedules 1, E and F. TexasProgresive Jan 2019 #6

MAGA! progree Jan 2019 #11

Do pls remember to scroll past the last half of page 1 of Form 1040, which is blank, and on to progree Jan 2019 #10

You got it right, progree! TexasProgresive Jan 2019 #12

Thank you for the links. We also use the Social Security Benefits Worksheet question everything Jan 2019 #13

My best guess is that lines "Reserved" are labelled as such PoindexterOglethorpe Jan 2019 #14