Here are a few changes for the 2018 tax year:
- For contributions made in tax years beginning after 2017, no charitable deduction is allowed for any payment to an institution of higher education in exchange for which the taxpayer receives the right to buy tickets or seating at an athletic event.
- Business deductions for entertainment expense are generally disallowed after 2017.
- The moving expense deduction is suspended for the years 2018 through 2025.
- The 2018 Form 1040 has been significantly reduced in size and contains fewer lines than in prior years. Unfortunately, it now includes six new accompanying schedules to which most of those removed lines have been moved. Therefore, if only the Form 1040 is required, the return is simpler than in the past. If those six new schedules are required, the tax return is now more cumbersome.