Why the tax reform likely eliminated the item

Reference no: EM132198829

Question: 1. How did the Tax Cuts and Jobs Act impact Schedule A Itemized Deductions. Be thorough in your explanation to fully cover what changed and what impact it could have on citizens broadly across the United States. (Fully answering this question should take you at least a page.)

2. The Tax Cuts and Jobs Act eliminated the deduction allowed on line 35 of Form 1040 for 2017. Explain what this line/deduction was and why the tax reform likely eliminated this item. Which taxpaying entity is likely impacted the most by this provision?

Reference no: EM132198829

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