The One Big Beautiful Bill Act (OBBBA) has lots of good news for individual taxpayers but some mixed news if you itemize deductions.
Here’s what you need to know to win under the OBBBA changes that affect itemizers.
Disallowance of Miscellaneous Itemized Deductions Made Permanent
For 2018-2025, the Tax Cuts and Jobs Act (TCJA) suspended miscellaneous itemized deductions that were previously allowed subject to a 2 percent of adjusted gross income (AGI) floor.
The OBBBA converted that temporary suspension into a permanent ... Log in to view full article.