Get ready for a wild ride.

The Tax Cuts and Jobs Act (TCJA) included many federal tax provisions that affected individuals. Some are good, and some are bad.

Most of them are scheduled to expire at the end of 2025. For you, that means for sure tax changes are coming—perhaps a ton of them because you know Congress will get involved.

Here’s a rundown of expiring and permanent TCJA provisions that are most likely to affect you as an individual.

And to make this more interesting, we labeled the scheduled expirations and permanent provisions as

bad news (taxpayer losers),

good news (taxpayer winners), and

mixed news.

Here goes.

Good News: Expiration of TCJA Rules for State and Local Tax (SALT) Deductions

Before the TCJA, you could claim itemized deductions for an unlimited amount of personal state and local income and property taxes. You also had the option of forgoing any deduction for state and local income taxes and instead deducting state and local general sales taxes.

For 2018-2025, the TCJA limits itemized deductions for personal state and local income and property taxes to a combined total of $10,000, or $5,000 for those who use married-filing-separately status.1

For 2018-2025, you cannot deduct foreign real property taxes at all.2

You can still opt to deduct state and local general sales taxes instead of state and local income taxes, subject to the $10,000/$5,000 limitation.3

Expiration. The more favorable pre-TCJA rules for personal state and local income tax itemized deductions are scheduled to ... Log in to view full article.