Event Description

Generally, people itemize deductions where Schedule A will produce a better result than claiming the standard deductions
Since 2018 many fewer people itemize because TCJA doubled the size of the standard deduction while limiting the deduction for state and local taxes to $10,000, though that changed somewhat with OBBBA
Schedule A gets a lot more complicated in 2026 due three new tax law changes – 0.5% AGI floor for charitable deductions, 90% limitation for gambling loss deduction, and 35% tax benefit limitation affecting taxpayers in the 37% bracket
This segment will discuss the new look and new math of 2026 Sch A.

*EA Approved Course