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For any divorce or separation agreement executed after December 31, 2018, or executed before that date but modified after, alimony payments are not deductible by the payor spouse.

If a pre-existing agreement is modified after December 31, 2018, the new rules will only apply if the modification expressly provides that the new law should be applicable.

Correspondingly, the recipient spouse will not have to include the alimony payments received as income.

The Act increases the base standard deduction from the inflation adjusted levels that applied in 2017 to:

$12,000 for Single, Qualifying widower and Married filing separately taxpayers.

$24,000 for married taxpayers filing Joint returns,

$18,000 for taxpayers filing as Head of Household.

The additional standard deduction available to taxpayers who are age 65 or older and or blind remain unchanged.
For 2018 the additional amount is $1,300 for married taxpayers and $1,600 for unmarried taxpayers.

For tax years beginning after December 31, 2016 and before January 1, 2019, medical expenses, for all taxpayers, are deductible to the extent that they exceed 7.5% of AGI.

In addition, the AMT preference related to medical expenses is eliminated.

Gambling losses remain deductible as a miscellaneous itemized deduction (not subject to the 2% limitation) to the extent of gambling winnings.
,br> The Act provides that all deductions for expenses incurred in carrying out wagering transactions, and not just gambling losses, are limited to the extent of gambling winnings.

The maximum amount of age-based long-term care premiums that can be included as deductible medical expenses for 2018 (subject to the AGI floor is $420.

If you are age 40 or younger at the end of 2018; $780 for those age 41 through 50; $1,560 for those age 51 through 60; $4,160 for those age 61 through 70; and $5,200 for those over age 70.

For tax years beginning after December 31, 2017 and before January 1, 2026, the overall itemized deduction limitation of 3% of the excess of AGI over the threshold amount (applicable to certain itemized deductions) is suspended.

The combination of residential property taxes and Income or sales taxes is capped at $10,000.

Property taxes remain fully deductible for taxpayers in a business or for-profit activity, so taxes paid on rental realty can be taken in full on Schedule E.

Long-Term Capital Gains (and Qualified Dividends) have been subject to special maximum tax rates. The Act generally retains the maximum tax rate structure.
For 2018 the 15% rate applies once the following income limits are met: a. Joint returns - $77,200
b. Head of Household returns - $51,700
c. Single returns - $38,600
d. Married Separate returns - $38,600
e. Trusts and Estates - $2,600

For 2018 the 20% rate will apply to long-term capital gains and qualified dividends above these income levels:
a. Joint returns - $479,000
b. Head of Household returns - $452,400
d. Married Separate returns - $239,500
e. Trusts and Estates - $12,700

Prior to the Act, a 0% capital gain rate applied to capital gains where the taxpayer is paying in the 10% or 15% rate on ordinary income; a 15% capital gain rate applied to any taxpayer paying any other rate below 39.6%; and a 20% rate applied to the high-income taxpayers paying 39.6% on ordinary income.

The IRS standard business mileage rate for 2018 is 54.5 cents a mile
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The rate for medical expense and moving expense for certain military personnel deductions is 18 cents a mile.

For charitable volunteers the mileage rate is unchanged at 14 cents a mile.

For 2018, the maximum credit amount is $3,461 for one qualifying child, $5,716 for two qualifying children, $6,431 for three or more qualifying children, and $519 for taxpayers who have no qualifying child. The phaseout ranges for the credit have been adjusted for inflation