Reinstatement of 2013 Tax Law

2014 reinstated tax laws that expired 12/31/13 for individuals


Tax incentives for individuals that are extended through 2014 include: The deduction for certain expenses of elementary and secondary school teachers;
The above-the-line deduction for qualified tuition and related expenses;
The treatment of mortgage insurance premiums as qualified residence interest;
The exclusion from gross income of discharge of qualified principal residence indebtedness;
The provision providing parity between employer-provided mass transit and parking benefits;
The deduction for state and local general sales taxes;
The special rule for contributions of capital gain real property made for conservation purposes;
The provision allowing tax-free distributions from individual retirement plans for charitable purposes.
Answer Provided by: CPAdirectory

Share This Answer

Looking For More?

View all Reinstatement of 2013 Tax Law Questions

View More Questions