Itemized Deductions :
Limited the deduction for taxes ( state , local , real estate ) to $ 10,000 annually for single and joint filers with no indexing for inflation
For new mortgages after the effective date , TCJA limited this interest deduction to the first $ 750,000 vs the first $ 1M of mortgage debt
Suspended the home equity interest deduction unless the debt is used to buy , build or substantially improve the taxpayer ’ s home rather than for any use – such as to pay off credit card debts , buy a car or for any other reason ( Equity debt limit remained @ $ 100,000 )
Removed the deduction for miscellaneous itemized deductions , such as tax preparer and investment advisor fees and unreimbursed business expenses