How Will Deductions Change Under Tax Reform

The new tax law will not impact how we fill out this year's returns but next year there will be big differences, as far as keeping track of deductions.  Kristine Tidgren is an Ohio State University Tax expert says many of the deductions we have taken in the past will be there, but we will probably not use them because the new law doubles the standard deduction.

"In the past for a married filing joint couple, that would have been around $13,000. Under the new law, that is $24,000 for a married couple."

She added in the new law you also will not be allowed to itemize deductions..and that may be hard to do, so many people may be filling out an E-Z form.​

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