Delivery: Text Based
Credit Hours: 2
Field of Study: Federal Tax Update
Approval: IRS, CTEC
After completing this 2-CE hour online self-study course, Miscellaneous Deductions Post-TCJA, you will
be able to:
Figure an employee's qualified miscellaneous deductions
Figure the amount of allowable gambling losses
Identify deductions which are (are not) subject to the 2% of AGI rule
Identify qualifying and reporting rules of employee business expenses
Identify changes to miscellaneous deductions under the Tax Cuts and Jobs Act (TCJA) of 2017
2017 TCJA Change.
Under the Tax Cuts and Jobs Act (TCJA) of 2017, all miscellaneous itemized deductions subject to
the 2% of AGI rule are suspended for tax year 2018 through tax year 2025.
Examples of such expenses limited by the 2% of AGI rule include:
Unreimbursed employee business expenses
Fees for tax preparation services
Fees for investment advice services
Fees for tax planning services
Fees for financial review and collection of alimony
There are numerous changes to Form 1040 returns under the Tax Cuts and Jobs Act of
Under the TCJA, standard deduction amounts have almost doubled beginning with tax
Pre-TJCA, only about 30% of taxpayers itemized deductions. Post-TCJA, the number of
returns with itemized deductions will likely decrease substantially.
Late-filed and amended returns will require preparers to know when to apply pre-TCJA
Please note that Study Questions and Final Exam Questions identify to which tax year(s)
the questions pertain.