Taxpayers can no longer claim these 4 deductions
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(Fox News) - As Americans get ready for the upcoming tax season, sweeping changes are going to affect how individuals and families file this year — including which deductions and credits they can claim.
While the Tax Cuts and Jobs Act doubled the standard deduction for both individuals and married couples filing jointly – meaning fewer people are expected to itemize – it also changed allowable deductions.
Here’s a look at what is no longer – and what still is – able to be claimed, as compiled by TurboTax:
Dependent exemption
Under the previous law, families were able to claim a $4,050 exemption – per parent – for each child. That deduction is no longer viable.
Unreimbursed employee expenses
A number of employees’ business expenses that went unreimbursed by employers – like classes and seminars – are no longer deductible under the new law.
Moving expenses
In 2017, workers moving for a new job could deduct related expenses on their tax returns. Everyone, except members of the armed forces, has lost that benefit.
Alimony deduction
Under previous law, the higher-earning spouse could deduct alimony payments on his or her tax filings. The recipient included the payments as part of his or her taxable gross income.
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