10 Facts About 2018 Income Tax Changes

2. Some Previous Deductions Were Eliminated

• The Personal Exemption Deduction was eliminated. Deductions for individuals, spouses, and dependents will no longer be possible. The exemption for 2017 for individuals was $4,050. Families with multiple children will be most affected by this loss; the deduction has been in place for many years.
• The new plan also eliminates the Moving Expenses Deduction. For tax years beginning after December 31, 2017, most individuals will not be allowed to claim a deduction for moving expenses. However, this deduction is still available for reassigned members of the armed forces.

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