Tuesday, January 2, 2018

Expired Tax Breaks

The provisions below expired at the end of 2016 and won't be available for the 2017 tax return.
1. The $4,000 tuition and fees deduction for adjusted gross income is no longer available.
2. The cancellation of mortgage debt for a principal residence which allowed up to a $2 million  income exclusion from taxable income has expired.
3. The personal energy property credit up to $500 has finally expired.
4. The mortgage insurance premium deduction is gone.

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