5 tax deductions that disappeared with tax reform

Tax reform will bring many changes for taxpayers filing a federal income tax return this season, especially when it comes to deductions and credits. Liberty Tax looks at five popular tax deductions that will not be available to taxpayers during tax years 2018 through 2025.

Personal exemption. For tax year 2017, taxpayers could claim a $4,050 deduction for themselves, a spouse, and each qualifying dependent. The personal exemption has been removed under the Tax Cuts and Jobs Act.

Personal casualty and theft loss. This deduction hasn’t gone away completely under tax reform, but taxpayers cannot claim it unless their loss was incurred in a federally declared disaster.

Moving expenses. Unless a taxpayer is active-duty military, he or she will not be able to claim the deduction for moving expenses.

Job search expenses. Taxpayers who looked for another job in the same line of work can no longer deduct expenses for things like resumes, travel or job placement ads.

Alimony. The new tax law repealed the deduction for alimony and separate maintenance payments. The repeal is effective only for divorce or separation instruments executed or modified after 2018.

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