Problem
How did the 2018 Tax Reform affects Itemized Deductions? Discuss the impact on two or more of the following Itemized Deductions.
1) Deduction for state and local income, sales and property taxes modified.
2) New dollar limit on total qualified residence loan balance.
3) Deduction for home equity interest modified.
4) Limit for charitable contributions modified.
5) Deduction for casualty and theft losses modified.
6) Miscellaneous itemized deductions.
7) Limit on overall itemized deductions.