[cherry]

I'm curious about charity giving....since we are just the serfs we can only give so much, and we rely on adding it to our deductions to make itemizing make sense....I guess no need for late December giving...

I am not at all enthused about this bill...

we will be lectured in about 2 yrs about the homeless starving, and the children hungry, and the schools falling down as well as bridges and dam all because they gave us this liddle bitty extra tax money BACK from when they took it in the first place..

[CatOwner]

So much is at issue. The capital gains exemption of up to $250,000 ($500,000 for married couples) would require living in the house five of the previous eight years (currently, it’s two of the previous five). That’s going to cause a nightmare for some folks who move every 2-4 years because their job relocates. I’m surprised they didn’t raise the exemption amounts given the longer duration.

[catnipman]

“I’m curious about charity giving”

charity deductions are still allowed but may be made moot for many people since the standard deduction doubled from $12,000 to $24,000, so charity giving now depends more on motivation to be charitable rather than simply for a tax deduction.